Trucost News / 09 Jan 2017

Trucost chief appointed to EU expert group on sustainable finance

Expert group will provide recommendations for a comprehensive EU strategy on sustainable finance.

Dr Richard Mattison, Chief Executive Officer of Trucost, a wholly-owned subsidiary of S&P Dow Jones Indices, has been appointed by the European Commission to join its High-Level Expert Group on sustainable finance.

The expert group is tasked with providing recommendations, by the end of 2017, for a comprehensive EU strategy on sustainable finance. The Commission will draw on these recommendations to determine how to integrate sustainability considerations into the EU’s rules for the financial sector.

The establishment of the expert group was announced in the European Commission’s Communication on accelerating implementation of the Capital Markets Union published in September 2016. This marks an important step in the follow-up to the EU’s 2030 agenda for sustainable development as well as the Paris agreement on climate change.

The expert group comprises 20 leaders from civil society, the financial sector and academia (see list below). It will be chaired by Christian Thimann, Group Head of Regulation, Sustainability and Insurance Foresight of AXA. Mr Thimann recently served as Vice-Chair of the Financial Stability Board Task Force on Climate Related Financial Disclosures.

The EU strategy on sustainable finance will set out ways in which EU financial policy reform can steer public and private capital towards sustainable investments, explore effective and operational steps that financial institutions and supervisors should take to protect the stability of the financial system from risks related to the environment and deploy these policies on a pan-European scale.

The expert group will meet on a regular basis throughout 2017. It will produce an interim report in the summer of 2017 and a final report in December 2017, both of which will be published.

European Commission Vice-President Valdis Dombrovskis, responsible for Financial Stability, Financial Services and Capital Markets Union, said: “We are committed to promoting sustainable finance in Europe. In appointing the members of our high level expert group, we have drawn on the best talent and expertise there is. They will ensure our approach to sustainable finance is ambitious and at the forefront of innovation. They will help us hardwire sustainability into EU financial policy.”

Dr Mattison said: “I am honoured to have been invited to join the High-Level Expert Group on sustainable finance. Trucost has over 16 years of experience working with financial institutions at the forefront of developing ambitious and innovative approaches to sustainable finance. I look forward to contributing to the work of the expert group and the European Commission to help put sustainability at the heart of EU financial policy.”

Further information

Members of the High-Level Expert Group on Sustainable Finance

Expert Title Organisation Stakeholder group
BECKER, Julie Member of Executive Committee Luxembourg Stock Exchange Finance (stock exchange)
BILLING, Magnus CEO ALECTA Finance (pension fund)
CANFIN, Pascal CEO WWF France Civil society
DUPRE, Stan CEO 2° Investment Initiative Civil society
FISHER, Paul Senior Associate University of Cambridge Academic
GROSZEK, Mieczyslaw Vice President Polish Bank Association Finance (banks)
HARRIS, David Head Sustainable Business and Director of ESG London Stock Exchange Group Finance (stock exchange)
HOLMES, Ingrid Director E3G Civil society
HUSSON-TRAORE, Anne-Catherine CEO NOVETHIC Research
KIDNEY, Sean CEO Climate Bonds Initiative Civil society
KIVISAARI, Esko Deputy Managing Director Federation of Finnish Financial Services Finance
KRUSE, Claudia Managing Director, Global Responsible Investment and Governance APG Asset Management Finance (asset manager)
MATTISON, Richard CEO TRUCOST (S&P Global) Finance (ratings/analytics)
McCarthy, Arlene Special Advisor to the Chairman, Bloomberg AMC Strategy Finance (data/analytics)
MICILOTTA, Flavia Executive Director EUROSIF Civil society
SCHMIDT, Michael Board Member DEKA Investment Finance (asset manager)
THIMANN, Christian (Chairperson) Group Head of Regulation, Sustainability and Insurance Foresight AXA Finance (insurance)
VANDER STICHELE, Myriam Senior Researcher SOMO Civil society (research)
WAYGOOD, Steve Chief Responsible Investment Officer AVIVA investors Finance (insurance)
ZAOUATI, Philippe CEO MIROVA Finance (asset manager)

European Commission press release, 22 December 2016, European Commission appoints members of the High-Level Expert Group on sustainable finance.

Media contact

Trucost: James Richens, +44 (0)20 7160 9804, james.richens@trucost.com

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