General

Sustainable Finance

Updated on 09/01/2019

State-of-play: Pre-legislative phase.

HLEG Report and Action Plan:

  • Commission:
    • Set up a High Level Expert Group on sustainable finance on December 2016.
    • Mid-term report of the HLEG published together with a consultation on 13 July 2017.
    • Publication of a consultation of the fiduciary duty of institutional investors and asset managers on 13 November (consultation runs until 28 January 2018).
    • On 13 November 2017, the Commission launched a public consultation on institutional investors and asset managers’ duties regarding sustainability.
    • Publication of a consultation of the fiduciary duty of institutional investors and asset managers on 13 November (consultation runs until 28 January 2018).
    • On 31 January 2018, the HLEG Report was published.
    • On 8 March 2018, the Commission published its Action Plan on Sustainable Finance.
  • Parliament:
    • On 2 February 2018, the ECON Committee’s draft report on sustainable finance was published.
    • On 21 February 2018 ,the ECON Committee held a public hearing on sustainable finance.
    • On 21 February 2018, the ECON Committee discussed the draft report.
    • On 24 April 2018, the ECON Committee adopted its draft report on sustainable finance.
  • Council: Discussions are ongoing.
  • Next steps: EP to present a draft report (November 2018)

Legislative Proposals:

  • On 24 May 2018, the Commission published a number of proposals aimed at financing sustainable growth, namely a proposal on Taxonomy, a proposal on low carbon and positive carbon benchmarks, a proposal on sustainable investment disclosure duties, and two delegated acts on MiFID and IDD.
  • On 13 June 2018, the list of members of the Technical Expert Group on Sustainable Finance was published.

Proposal on Taxonomy:

Proposal on low carbon and positive carbon benchmarks

Proposal on sustainable investment disclosure duties:

  • On the 24 May 2018, the Commission published a proposal on sustainable investments and sustainability risks.
  • Parliament:
  • Council: Discussions are on-going.
  • Next steps: Council to reach a general agreement and start of trilogue negotiations.
  • Commission: launched a consultation on 30 September 2015 that ended on 31 January 2016
  • A public hearing at the Commission took place on 17 May 2016.
  • On 7 June 2016, the Commission published the summary of the call for evidence.
  • On 22 November 2016, the Commission published a follow-up communication on the call for evidence.
  • On 1 December 2017, the Commission published a progress report, providing an update to the call for evidence in 2015.

Contact

Association des Banques et Banquiers, Luxembourg

Address

12, Rue Erasme L-1468 Luxembourg

Phone Fax
Opening hours

Monday to Friday from 8:00 to 17:30.