The impact of the European action plan on sustainable finance
This book is the result of an intensive cooperation between the European Association for Banking and Financial Law (AEDBF Belgium), Forum Compliance, and the Jan Ronse Institute for Corporate and Financial Law (KU Leuven).
The European Commission’s Sustainable Finance Action Plan has resulted in a review of the entire body of financial regulation, at a remarkable pace. No area of financial regulation remains untouched. For the financial sector, the impact is immense: almost all processes will have to be reassessed and possibly amended.
On the most remarkable innovations, this book offers contributions, grouped in four themes.
A first part – “What Is Sustainable Finance?” – features contributions on taxonomy, sustainability labels and ESG-related bonds.
A second part takes the perspective of corporations, with contributions on sustainable governance, the Non-Financial Reporting Directive and the proposed Corporate Sustainability Reporting Directive.
A third part assesses the impact of sustainable finance on prudential regulation and supervision.
The fourth and final part relates to sustainable finance regulation with a predominant investor protection objective, with contributions on the Sustainable Finance Disclosure Regulation, the sustainable finance-related changes to the MiFID and IDD frameworks, and the role of the conduct of business supervisor.
For everyone working in the financial sector, the sustainable finance movement represents an increased permanent education challenge. With this book, we hope to have contributed to this endeavour.
Preface - Veerle Colaert, Inez De Meuleneere and Marie-France De Pover
Regulating Sustainable Finance: Setting the Scene - Veerle Colaert and Arnaud Van Caenegem
What Is Sustainable Finance?
Defining Sustainable: The EU Taxonomy as an Illustration of a Cost-Effectiveness Approach in Sustainable Finance Policy - Charlotte Gardes
Defining Sustainable Financial Products: Sustainability Labels in the Context of EU Legislation - Tom Van den Berghe and Louis Eklund
ESG-Related Bonds - David Ballegeer
Sustainable Finance Obligations for Corporations
Sustainable Governance: A Key Dimension to Future Prosperity - Anne Sophie Pijcke
Non-Financial Reporting and Proxy Advisers - Ilse Lampaert and Filip Ferrante