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Sustainable Finance at EBF

Core Content

The European Banking Federation (EBF) has positioned sustainable finance as a strategic priority, recognizing the importance of aligning the financial sector with global social and environmental goals. These include the United Nations Sustainable Development Goals (SDGs) and the Paris Agreement on climate change. Banks are seen as key players in driving the transition to a low-carbon, resource-efficient, and circular economy.

Main Objectives

• To catalyse the transition to a sustainable economy.
• To promote sustainable finance through proactive initiatives and engagement with regulators.
• To support the implementation of the EU Taxonomy and other regulatory frameworks.

Key Initiatives

EBF Approach

EBF engages in sustainable finance through the following key areas:

• Regulatory initiatives: Participating in shaping EU regulations related to sustainable finance.
• Proactive work: Developing tools and frameworks to support sustainable finance.
• Knowledge sharing: Exchanging good practices and building capacity within the banking sector.

Working Lines

EBF has identified several working lines to advance sustainable finance:

• Legislative proposals: Focused on updating and improving EU legislation.
• Corporate reporting: Enhancing transparency and consistency in reporting sustainability-related data.
• Other regulatory initiatives: Engaging in broader regulatory efforts to support sustainable finance.

Specific Projects

• Taxonomy: Developing guidelines for applying the EU Taxonomy to lending portfolios.
• Disclosures and Indices: Working on sustainability-related disclosures, indices, and metrics.
• Incentives: Creating incentives and disincentives to encourage sustainable financial practices.
• SDGs: Producing reports and guidelines to align banking activities with the SDGs.

Engagement with the Technical Expert Group (TEG)

EBF is actively involved with the TEG, particularly in the following areas:

• Endorsing and consulting on the Principles for Responsible Banking (PRB).
• Supporting the Fitness Check of the Non-Financial Reporting Directive (NFRD) and updating its guidelines.
• Working with the EBA and ECB on climate and ESG risks.
• Contributing to the report on SDGs and the EBF guidelines on taxonomy and loans.

Organizational Structure

EBF has established a Steering Committee for Financing Growth to oversee sustainable finance initiatives, including:

• A Joint Task Force (TF) on Sustainable Finance and Fintech.
• A Joint TF on Sustainable Finance and Banking Supervision Committee.

The Sustainable Finance Working Group (WG) is divided into five subgroups:

1. EU Green Taxonomy: Focused on aligning financial activities with the EU Taxonomy.
2. EU Green Bonds: Developing standards and best practices for green bonds.
3. Disclosures, Indices & Metrics: Enhancing transparency and measurement tools.
4. Incentives/Disincentives: Creating financial mechanisms to promote sustainability.
5. SDGs: Aligning banking activities with the United Nations Sustainable Development Goals.

What's Next

EBF has outlined several key actions for the coming months:

1. Active engagement with EBA: Collaborating on regulatory and supervisory matters.
2. Continuing engagement with EU legislators and TEG: Shaping future policies.
3. Report on incentives: To be published in July 2019.
4. Guidelines on taxonomy and lending portfolios: To be released in October 2019.
5. Signature of the Principles for Responsible Banking (PRB): Expected in September 2019.
6. Banking Summit: To be held on 2nd and 3rd October 2019, featuring sessions on sustainable finance.
7. Report on SDGs: To be published by year end 2019.

Conclusion

EBF is committed to promoting sustainable finance through a combination of regulatory engagement, proactive initiatives, and knowledge sharing. The organization is structured to support this mission with dedicated working groups and task forces, ensuring a coordinated and impactful approach. The upcoming activities and reports will further solidify EBF's role in advancing sustainable finance across the European banking sector.