Trucost News / 13 Jul 2017

European Commission’s High Level Expert Group on Sustainable Finance Publishes Findings

The EU has pledged to take the lead in helping to deliver the transition to a low-carbon, more resource efficient, and more circular economy.

This Interim Report of the HLEG identifies two imperatives for Europe’s financial system.

The first is to strengthen financial stability and asset pricing, by improving the assessment
and management of long-term material risks and intangible factors of value creation, including
those related to environmental, social and governance (ESG) issues. The second is to improve
the contribution of the financial sector to sustainable and inclusive growth, notably by financing
long-term needs such as innovation and infrastructure, and accelerating the shift to a low
carbon and resource-efficient economy.

Christian Thimann, Chair of the High-Level Expert Group said:
“Sustainable finance means ‘better development’ and ‘better finance’ – development
that is sustainable in each of its economic, social and environmental dimensions; and a
financial system that is focused on the longer term as well as material ESG factors.”

Read the report here

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