DOWNLOAD PAPER SHAPING A SUSTAINABLE ECONOMY: A BIRD’S EYE VIEW OF THE E.U.’S ESG REFORM PROJECT

Caitlin McErlane ()
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Caitlin McErlane: Baker McKenzie LLP, Postal: Baker & McKenzie LLP , 100 New Bridge Street , London EC4V 6JA , United Kingdom

Journal of Financial Transformation, 2020, vol. 51, 139-148

Abstract: In March 2018, the European Commission published an ambitious Action Plan on Sustainable Finance, which proved to be the first step in a series of regulatory reforms aimed at fundamentally reorienting capital flows towards sustainable investment and managing perceived financial risks stemming from climate change. While the resulting reform framework is sprawling in nature, and adds to a disparate set of pre-existing regulations, the overall design forms a blueprint that will touch almost every aspect of the financial services industry and profoundly alter the language of sustainable investment.

This article examines the major features of the reform project and how the new regulatory architecture will impact financial institutions based in the E.U. and further afield, alongside the question of how the reforms will flow through to commercial companies.

Keywords: ESG; asset managers; financial institutions; climate change; regulation; EU (search for similar items in EconPapers)
JEL-codes: K23 K32 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:ris:jofitr:1636

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