Now Available: OMFIF Conference Videos--International standards for sustainable finance: Europe’s place in the vanguard

 

 

International standards for sustainable finance: Europe’s place in the vanguard

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OMFIF hosted a conference in Frankfurt to examine how the European Union can strengthen its sustainable finance competitive process, with a special emphasis on Germany and Luxembourg. The EU has made vast efforts on climate change, with the EU taxonomy spearheading sustainable finance regulatory practice, developments of disclosure frameworks and the integration of climate risk into financial services. Yet challenges persist with divergence in standards and jurisdictional approaches, the need to tackle greenwashing and converging the real economic and financial markets to achieve effective net zero transition. This conference brought together public sector agencies from around the world, emphasising the central importance of public-private interactions for success in this sphere. Participants form a powerful force for co-operation in setting standards. Topics discussed included refining green products and instruments for more effective use of financial markets in combatting climate change, moving to a more holistic view of sustainability and, importantly, saying RIP to ESG. PANEL I: EUROPE ON THE WORLD STAGE Watch on demand here. PANEL II: GLOBAL STANDARD-SETTING: HARMONISATION, REGULATORY FRAMEWORKS AND TRANSFORMATIONAL FINANCE Watch on demand here. PANEL III: ESG AND CAPITAL MARKETS: SUSTAINABLE INVESTMENT Watch on demand here. PANEL IV: SUSTAINABLE FINANCE AND THE WAY FORWARD ​​​​Watch on demand here. The one-day conference on 15 September – ‘International standards for sustainable finance: Europe’s place in the vanguard’ – was supported by a range of institutions, including technology consultancy Capco, Frankfurt Main Finance and the Luxembourg embassy in Berlin. It was attended by delegates and speakers from a dozen countries, including the European Commission, United Nations, European Investment Bank and Organisation for Economic Co-operation and Development. Nicolas Mackel, chief executive of Luxembourg for Finance, the Grand Duchy’s financial promotion agency, summed up one prevalent mood of the meeting. The bitter consequences of the war in Ukraine – high inflation, recession worries and drawbacks of undue energy reliance on Russia – coincided, he said, with considerable opportunities for renewal and innovation. In partnership with: