The European Commission has established a Technical Working Group on Sustainable Finance. Among 35 members of the group is Maciej Bukowski, president of WiseEuropa.
The Group will assist the Commission in developing an EU classification system – the so-called taxonomy – to determine whether an economic activity is environmentally-sustainable. It will also support the Commission in the creation of an EU Green Bond Standard, in improving the disclosure of climate-related information and by helping develop a category of low carbon indices. These indices are to be used by asset and portfolio managers as a benchmark for lowcarbon investment strategies.
The European Commission selected the Group’s representatives from 185 candidates. Members of the Group are representatives of European financial and economic institutions as well as non-governmental organizations and academia. Among them are representatives of European supervisory authorities, the European Central Bank and the European Bank for Reconstruction and Development.
The Group’s work will start in July 2018 and will finish by 30 June 2019, with possible extension until year-end 2019.
The whole list of members of the Technical Working Group on Sustainable Finance and more information about the Group’s work can be found on the website of the European Commission.