Sustainable and green finance VER20210034
15 October 2021
The signing of the Paris Agreement on climate change on 12 December 2015 marked a milestone for the world and the global economy. Achieving the goals of the Paris Agreement necessitates a transformation of the financial system, its culture, and its incentives. In this context, sustainability means making economic prosperity long-lasting, socially inclusive and less dependent on the exploitation of finite resources. Since the Paris Agreement, several initiatives have been launched. The European Commission appointed the High-Level Expert Group on Sustainable Finance at the end of 2016. Furthermore, the Central Banks and Supervisors Network for Greening the Financial System (NGFS) began its activities in January 2018. The network members agreed on a work programme which includes sharing experience and identifying best practices on the supervisory and macrofinancial dimensions of climate-related and environmental risks as well as on options to scale up green financing. The growth in the NGSF’s membership in 2018-19 underlines the importance of this topic. The network’s first comprehensive report, entitled “A call for action”, proposes first recommendations aimed at facilitating the role of the financial sector in achieving the objectives of the 2015 Paris Agreement. The latest publication from the BIS, titled “The green swan”, discusses the role of central banks in green and sustainable finance on more than 100 pages.
March 2018 saw the European Commission unveil its strategy for a financial system that supports the EU’s climate and sustainable development agenda. In April 2019, the European Parliament endorsed legislation including the regulation on disclosures relating to sustainable investments and sustainability risks. In addition, conditions and a framework for a unified classification system ('taxonomy') regarding sustainable economic activities were adopted by the European Parliament. Given recent developments, this expert panel aims to provide an overview of current regulatory activities in the field of sustainable finance. It will discuss the possible effects of these developments on the financial system as well as the challenges and opportunities they present. Moreover, the panel will offer a platform to discuss what role supervisory authorities and central banks should take or – in other words – “How green do supervision and regulation need to be?”
- Overview of current regulatory developments and initiatives
- Discussion of the effects on financial systems: challenges and future potential
- Discussion of the role of supervisory authorities and central banks
- Market perspective: green and sustainable bond issuance and market standards
The course is aimed at experts in banking supervision, financial stability or monetary policy. They should have a thorough understanding of interdependencies within financial systems, knowledge of banking supervision and regulation or monetary policy frameworks. They should also have a grasp of current regulatory developments with respect to sustainable and green finance worldwide.
Computer with microphone, camera, speakers or headphones; an up-to-date internet browser.
Please apply online by clicking on the registration button within the application period.