Emerging ESG challenges: setting realistic ambitions for the financial sector

Background and objectives of the session The EU Green deal has ambitious objectives for climate, but also for the fight against pollution and waste, the development of a circular economy and the reverse of the alarming decline in ecosystems and biodiversity. Additional investments to address these objectives are estimated at 130 € billion per year. … Continued

Background and objectives of the session There is today no international harmonisation of ESG (Environment, Social, Governance) standards, even on climate despite the Paris Accord. This makes the life of financial and non-financial firms difficult and creates confusion which can lead to greenwashing. The European Union has started to develop an ambitious regulatory framework which … Continued

Objectives of the roundtable The essence of banking lies in assessing, balancing, and managing risks and benefits. As different types of risk/reward are needed to satisfy different types of customer needs, there is place for different types of banks. A business model can be seen as the sum of the systems, mechanisms and methods through … Continued

Objectives of the roundtable The major European banks have lost their competitiveness and remain generally less profitable and undervalued compared to their global counterparts. The session will first discuss the reasons of this significant gap between large EU banks and their American and Asian peers and the related consequences of such a gap. Then the … Continued

Objectives of the roundtable The session will discuss the impacts of the massive and continuous use of non-conventional ECB instruments since 2015, the over indebtedness and the resurgence of inflation on EU growth as well as the financial vulnerabilities created by lasting very low interest rates. Then the session will focus on the main monetary … Continued

Objectives of the session According to some observers, the ECB seems to face with a quandary: tightening monetary policy – dampening demand by reducing the money overhang that requires an ending of QE and raising gradually interest rates – that would create challenges for highly indebted euro area members -, or tolerate rising inflation and … Continued

Objectives of the session Having an effective and integrated framework for managing crises, is essential for preserving the trust of depositors and the public at large, in order to avoid financial fragmentation and to safeguard financial stability. The session will discuss the way forward for improving the EU crisis management framework and focus on small … Continued

Objectives of the session The EU Commission presented at the end of October 2021 the Banking package intended to address various shortcomings identified. In particular, it is transposing in the EU limitations imposed by the BCBS of the ability of internal models to reduce regulatory capital in order to increase comparability of banks’ balance sheets. … Continued

Objectives of the session A review of the EU (re)insurance regulatory framework is on the table to draw the lessons of the first years of its application. The revision is handled in the context of an unprecedented long-term investment need related to digital and sustainability transition EU challenges. In addition, despite a recent re-emergence of … Continued

Objectives of the session In the context of swift innovation enabled by internet and the progressive development of emerging markets, cross-border payments have remained expensive, slow, and insufficiently secured notably in the context of ever-growing cybercrime and money laundering. To address these challenges the Financial Stability Board (FSB) coordinates an amazing 19 building-block roadmap of … Continued