FIA submits response to the European Commission consultation on a renewed sustainable finance strategy

15 July 2020

FIA has issued a response to the European Commission consultation on a renewed sustainable finance strategy.

FIA supports the European Commission's increased focus on sustainable finance and has made several recommendations for the development of its strategy.

FIA’s response to the Commission’s sustainable finance strategy advocates that financial initiatives complement each other and amplify the European climate actions and goals. FIA believes that market participants will need clear direction from policy makers as to which assets and technologies will be phased out and when, with a long transition period to improve predictability, avoid market disruption, and to allow for budget considerations and a timely assessment of stranded assets.

FIA believes that increased global coordination will be key to the success of any sustainable finance policy. This will not only ensure a positive global impact on climate but avoid arbitrage opportunities if more stringent requirements only apply locally, which would reduce the effectiveness of EU measures.

FIA will continue to engage with its members, policy makers and regulators on issues related to sustainable finance and climate policy.

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