Draft ID: 80b65392-d900-4ba8-b987-2150a3818e01
Date: 29/09/2020 10:21:35
Targeted consultation on the establishment of
an EU Green Bond Standard
Fields marked with * are mandatory.
Introduction
This consultation is also available in
German
and
French
.
Diese Konsultation ist auch auf
Englisch
und
Französisch
verfügbar.
Cette consultation est également disponible en
allemand
et en
anglais
.
In March 2018, the European Commission published its Action Plan on Financing Sustainable Growth with the goal of
embedding sustainability considerations at the heart of the financial sector. Specifically, it aims to:
1. reorient capital flows towards sustainable investment to achieve more sustainable and inclusive growth;
2. manage financial risks stemming from climate change, resource depletion, environmental degradation and
social issues; and
3. foster greater transparency and long-termism in financial and economic activity.
As part of the Action Plan, the Commission committed to developing standards and labels for green financial products
and instruments, including an EU Green Bond Standard (EU GBS).
As a first step, the Commission's Technical Expert Group on sustainable finance (TEG) was tasked with preparing a
report on an EU GBS.
The TEG published its first report in June 2019 with 10 recommendations for the establishment of an EU GBS based on
current best market practices and feedback received from stakeholders. The TEG also recommended the creation of an
official voluntary EU GBS building on the new EU Taxonomy, which provides a classification system for sustainable
economic activities. The TEG provided further usability guidance in March 2020, which includes an updated proposed
standard (see the annexes).
The Commission is now considering how to take the recommendations of the TEG forward, including in a possible
legislative manner. This consultation is designed to gather further input of a technical nature from relevant stakeholders
in the green bond market, in particular issuers, investors and related service providers.
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