“Today’s agreement is a welcome step forward towards establishing an important element of the EU sustainable finance framework. On behalf of our members, AFME contributed with practical industry input for the GBS to support and strengthen the EU green bonds market...
Commenting on the agreement in the European Parliament today on the proposed EU Green Bond Standard (GBS), Oliver Moullin, Managing Director for Sustainable Finance at the Association for Financial Markets in Europe (AFME), said:
“Today’s agreement is a welcome step forward towards establishing
an important element of the EU sustainable finance framework. On behalf
of our members, AFME contributed with practical industry input for the
GBS to support and strengthen the EU green bonds market.
“Consistently with the objective to establish a “gold standard”
in the market, AFME welcomes that the compromise maintains the
voluntary nature of the standard, complementing existing market labels
and allowing issuers to offer green bonds in line with other
international standards to support the continued growth and efficiency
of the green bond market.
“Looking ahead to the interinstitutional (trilogue) negotiations,
in order to support the continued growth of ESG bond markets - which
is particularly important in current market conditions - the
co-legislators should focus on the following as they finalise the
standard:
- Maintaining the focus of creating a voluntary standard for
green bonds and not extending requirements to other types of instruments
such as other bonds marketed as sustainable;
- Maintaining the link with the EU Taxonomy Regulation and avoiding duplicative requirements for transition plans; and
- Ensuring that the standard supports the development of green securitisation.”
AFME
© AFME
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