The European Union is strongly supporting the transition to a low-carbon, more resource-efficient and sustainable economy. The Paris agreement, in particular, includes the commitment to align financial flows with a pathway towards low-carbon and climate-resilient development.
The financial sector has a key role in this process, and the European Commission announced in December 2016 a High-Level Expert Group (HLEG) on Sustainable Finance in order to advice on a UE global strategy about sustainable finance. It was composed by members from insurance companies, pension funds, institutional investors, banks, representatives of securities markets and rating agencies, independent experts and academics have done recommendations for this purpose.
A draft report from July 2017 identified six key areas to build a sustainable European financial system: definition of what a sustainable financial system means; incentives and processes needed, participants and facilitators of sustainable finance market, the capability to mobilize funds, and policy and legal topics for future consideration.
The High-Level Expert Group (HLEG) will present them during the seminar.
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