The EACB expressly supports political targets for creating sustainable and climate-friendly regulatory frameworks in order to significantly reduce the risks and consequences of climate change. In this context, the EACB and its members welcome the Action Plan on Sustainable Finance and see it as a logical further step to foster the objectives agreed in the Paris agreement.
Co-operative banks, with their broad networks and geographical reach, can play a key role in the development of a more inclusive and sustainable finance, taking into account both environmental and social aspects.
Co-operative banking groups/networks are active players in the field of sustainable finance both as underwriters and as originators/issuers of sustainable loans and bonds.
With this in mind, the EACB has developed some initial thoughts regarding the different action items in the Action Plan that are elaborated in the its position paper.
Moreover, co-operative banks wish to be involved and contribute to the assessment and development of the main building blocks of the European Commission Action Plan such as taxonomy, reporting, risk management and impact on accounting- taking a practical and retail perspective.
14 May 2018
EACB Position Paper on the European Commission Action Plan on Sustainable Finance
EACB