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Martin Scheck, Chief Executive, ICMA said: “ICMA welcomes the European Commission’s concrete proposals to begin the implementation of the Action Plan for Financing Sustainable Growth. These proposals, including an EU sustainable classification system, reflect some of the highest priorities of the European Commission’s High-Level Expert Group, in which ICMA was pleased to participate.
Going forward, a key priority should be to ensure that there is an appropriate balance between legislative and market initiatives, enabling the capital markets to finance sustainable growth whilst minimising unintended regulatory complexity and legal uncertainty. The financial sector can indeed contribute decisively to Europe’s environmental objectives, providing opportunities for its companies and citizens to foster sustainable economic activities leading to growth and job creation. ICMA looks forward to continuing its work in this important area.”