04 October 2023

Opening remarks by Commissioner McGuinness at the European Parliament plenary debate on the European Green Bond Standard

We're also a step closer to companies issuing their own European Green Bonds – to companies meeting our ambitious criteria in the Standard to raise money for the green transition. And we're a step closer to a complete EU sustainable finance framework.

So dear colleagues – those who've been involved in this file, a huge thank you to you as a team of negotiators. You have done good work.

And I think we're all in a good mood here, because we have reason to celebrate.

Paul, I very much liked your speech of transparency, trust and transition – they're three important Ts.

For me, we are now taking a very big step to making the European Green Bond Standard a reality.

We talked about it for a long time – it is now becoming a reality.

We're also a step closer to companies issuing their own European Green Bonds – to companies meeting our ambitious criteria in the Standard to raise money for the green transition.

And we're a step closer to a complete EU sustainable finance framework.

I do say and I hope you will agree that the final text strikes the right balance between ambition and pragmatism.

And thanks to this balance, we have a real chance to make this Standard the gold standard for green bonds.

Our European Green Bond Standard is based on the EU Taxonomy and the detailed criteria it sets out for sustainable activities.

So both issuers and investors can be assured of the credentials of any bonds issued using the Standard.

And there are high levels of transparency.

The Standard will help issuers raise capital for green investments.

It will make it easy for investors to pick sustainable investment opportunities.

And crucially it will fight and help us to continue fighting greenwashing.

External reviewers of the European Green Bond Standard will be subject to European supervision.

And this is a first for green bonds.

ESMA will be in charge of supervising reviewers that want to offer their services to the issuers of European Green Bonds....

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