AFME is a strong supporter of the EU’s
aim to be a leader in driving the development of a more sustainable
financial system, including via the implementation of its Sustainable Finance
Action Plan and the European Green Deal.
AFME has established the Sustainable
Finance Steering Committee that meets regularly to discuss, debate and develop
strategies for increasing the role of environmental, social and governance
(ESG) considerations in wholesale finance.
Key areas of focus for AFME on
Sustainable Finance include:
- Development of coherent and holistic EU strategy to direct private capital to sustainable investment
- Enhancement of ESG Reporting and Disclosure at the EU and globally (in the context of planned review by the EC of the Non-Financial Reporting Directive (NFRD)
- Finalisation of the EU Taxonomy for green activities at the legislative level and development of its usability for capital markets transactions
- Pragmatic and risk-sensitive integration of ESG considerations into banking prudential and supervisory frameworks (in the context of the EBA mandates to the European Commission)
- Support incorporation of ESG and Sustainable Finance considerations across various capital markets product areas and business functions