SUSTAINABLE FINANCE - ESG

SUSTAINABLE FINANCE

ACEPI is committed to disseminating the culture of sustainability among its members and to other stakeholders and promoting a responsible approach to investments, with particular reference to environmental, social and governance (ESG) topics.
Indeed, sustainable finance is the application of the concept of sustainable development to financial activity.
Sustainable finance, therefore, aims to create value in the long term, directing capital towards activities that not only generate economic surplus value, but are at the same time useful to society and are not charged to the environmental system.
The European Commission published in March 2018 an "Action Plan for sustainable finance", which outlines the strategy and measures to be adopted for the creation of a financial system capable of promoting genuinely sustainable development from an economic point of view, social and environmental, helping to implement the Paris Agreement on climate change and the United Nations 2030 Agenda for Sustainable Development.
In addition, the European Commission, in implementation of the aforementioned Action Plan, has proposed a Union strategy on sustainable finance, with a roadmap that outlines the work and future initiatives in which all stakeholders of the financial system will be involved.
In particular, on 24 May 2018, the European Commission adopted a set of legislative proposals and launched a series of consultations on the subject (see links below).
ACEPI, in line with its mission, provides its contribution, also through EUSIPA, in the context of these consultations in order to define and promote a European regulatory framework on sustainable finance in general and in particular in the definition of ESG criteria in relation to investment products.

CONSULTATIONS IN PROGRESS - ENDED

CONSOB - Regime volontario di pubblicazione della dichiarazione di carattere non finanziario (DNF) - Call for evidence (1° settembre 2020 / 30 novembre 2020)

Commissione europea - Targeted consultation on the establishment of an EU Green Bond Standard (12 June 2020 - extended to 2 October 2020)

ESAs announce public hearing on ESG disclosures (ESAs press release of 9 june 2020) novembre 2020)

Joint ESAs consultation on ESG disclosures (JC 2020 16 - 23 aprile 2020 / 1 settembre 2020)

Slide deck on Public Hearing on ESG disclosure (2 luglio 2020)

ESAs Survey on templates for Environmental and/or Social financial products under SFDR (21 September - 16 October 2020)
Commissione europea - Consultation on the renewed sustainable finance strategy (8 aprile 2020 / 15 luglio 2020)
Documento ESMA30-22-821 del 15 luglio 2020 - Response to public consultation - EC consultation on a Renewed Sustainable Finance Strategy
Commissione europea - Non-financial reporting by large companies (updated rules) - 20 febbraio 2020 / 11 giugno 2020
Esma - Consultation paper on integrating sustainability risks and factors in MIFID II (Esma 35-43-1210 - 19 giugno 2018 / 19 febbraio 2019)
Esma - Consultation paper on integrating sustainability risks and factors in the UCITS Directive and AIFMD (Esma 34-45-569 - 19 dicembre 2018 / 19 febbraio 2019)
Eiopa - Consultation paper on technical advice on the integration of sustainability risks and factors in the delegated actsunder Solvency II and IDD (EIOPA-BoS-18/483 - 26 novembre 2018 / 30 gennaio 2019)
OTHER USEFUL DOCUMENTS
Pubblicazione Banca d'Italia del 15 giugno 2020 - "ESG Risk in times of Covid-19"
Codice Corporate Governance 2020
Report osservatorio DNF 2019
Report Iosco on Suistainable Finance (aprile 2020)
Comunicato stampa della BCE del 20 maggio 2020 - La BCE avvia una consultazione pubblica in merito alla sua guida sui rischi climatici e ambientali