What will the Capital Markets Union mid-term review deliver for citizens and the environment?
When: 06 June 2017 13:30 - 15:30
Where: European Parliament
Register here (attendance by invitation only)
Co-hosted by MEP Paul Tang (S&D group), Sven Giegold (Greens/EFA group), Sirpa Pietikäinen (EPP group) and Fabio de Masi (GUE/NGL group).
Key note address by Mr Valdis Dombrovskis, Vice-President of the European Commission for Financial Stability.
Since the European Commission published its Capital Markets Union (CMU) Action Plan in September 2015, where green bonds were the only sustainable finance issue mentioned, a large momentum has built up to support sustainable finance.
The European Commission created the High-Level Expert Group on Sustainable Finance in December 2016 to develop an overarching strategy on sustainable finance. The Capital Markets Union midterm review is expected to be published on June 7th, and is the key 2017 opportunity for the Commission to take action on sustainable finance.
Several stakeholders including NGOs and MEPs have asked that the Commission demonstrate how it will integrate sustainability into the CMU midterm review given the urgency to tackle climate change and energy transition, as well as how it will address human rights, environmental impacts and social inequality in order to develop a sustainable financial system that benefits people and planet. The European Commission should also aim for aligning financial flows with the Paris Agreement and the Sustainable Development Goals.
This will be followed by a discussion with representatives of the European Commission (DG FISMA), European Parliament, NGO coalition, an institutional investor, an academic, and relevant financial stakeholders on why and how sustainability measures can be integrated in the CMU midterm review.