EACB statement on the NGFS report

On 17th April 2019 at the Banque de France, the first comprehensive report of the central banks and supervisors Network for Greening the Financial System (NGFS) was presented at a high level conference that gathered supervisors, the industry, academics and civil society. The EACB secretariat and several of its members were invited and attended the event. The EACB congratulates the work done by the NGFS and the high quality of the report. Co-operative banks are actively contributing to this process and they are committed to play their part in sustainable finance. The EACB calls for both an ambitious as well as a practical approach to address the challenges for sustainable finance. To scale up the EACB considers the six recommendations made in the NGSF report essential and find it important to develop an internationally consistent climate and environmental disclosure framework and common standards and green labels for sustainable finance. Looking forward, the EACB intends to continue to actively contribute to the dialogue between the supervisor and the banking industry, particularly as regards the climate risk and non-financial disclosures. For those reasons, the EACB invited Sylvie Goulard (Deputy Governor of Banque de France and member of NGFS) to the EACB Workshop on Sustainable Finance, that will take place the 24th May in Paris.