Sustainable finance initiatives

22/11/2021

Climate change-related work areas in the ECB

Economic analysis
- Incorporation of climate change into macroeconomic models, and into projection methods and risk assessments
Monetary policy and investment portfolios
- Climate-related aspects are part of the strategic review of monetary policy
- Application of SRI criteria in own portfolios and in employee pension fund portfolios
Financial stability
- Measurement and assessment of risks climate change may pose to the financial system
Banking supervision
- Supervisors work jointly with banks to heighten awareness of the risks stemming from climate change in order to ensure that banks are capable of managing them appropriately

2015
- COP21 – Paris Agreement
- 2030 Agenda – UN SDGs
2016
- European Union ratifies Paris Agreement
- European Commission includes SDGs in its strategic approach
- G20 – Green Finance Study Group
2017
- Creation of NGFS
- FSB-TCFD recommendations
2018
- G20 – Sustainable Finance Study Group
- European Commission launches Action Plan on Financing Sustainable Growth
2019
- European Parliament declares climate emergency
- COP-25
- European Commission – European Green Deal
- Creation of International Platform on Sustainable Finance and Coalition of Finance Ministers for Climate Action
- Banking sector launches Principles for Responsible Banking and Collective Commitment to Climate Action
2020
- European Commission approves European Taxonomy Regulation
2021
- European Commission launches Renewed Sustainable Finance Strategy

From 2016 to 2018
- High Level Expert Group (HLEG)
From 2018 to 2020
- Technical Expert Group (TEG)
From 2018 to 2021
- Action Plan on Financing Sustainable Growth
From 2019 to 2021
- European Green Deal
From 2020 to 2021
- Platform on Sustainable Finance
- Renewed Sustainable Finance Strategy (RSFS)