As part of implementing its first legislative package on sustainable finance, the European Commission has recently announced a Technical Expert Group (TEG) on Sustainable Finance and has appointed UNEP FI as an observer to the Group. The main tasks of the TEG will be to assist the Commission in the development of:
- an EU taxonomy of environmentally sustainable economic activities
- an EU green bond standard
- a category of “low-carbon” indices for use by asset and portfolio managers as a benchmark for a low-carbon investment strategy
- metrics allowing improved disclosure on climate-related information.
The TEG’s work started in early July 2018, and will finish by 30 June 2019, with a possible extension to year-end 2019.
More information about the EC Technical Expert Group on Sustainable Finance is available here.
Find more information about the EC’s Action Plan for Sustainable Finance here.