GLOBE EU High-Level Conference – Missing links in the evolution of Sustainable Finance
European Parliament, November 20th
09:00 – 15:00
MORNING SESSION 09.00-11.00 – European Parliament, room 6Q1
The morning session will explore how the financial services sector could be mobilized to support a transition to sustainability and whether there is a need to change the current incentives for financial market participants and public authorities.
09.00 -09.15 Welcoming words – Sirpa Pietikäinen, MEP and President of GLOBE EU
09.15 -09.25 Keynote address – Mami Mizutori, Assistant Secretary-General and Special Representative of the Secretary-General for Disaster Risk Reduction, United Nations
09.25 – 10.05 Session 1. Setting the scene: Why a transition to sustainable finance?
The first session will explore whether there is a need to shift incentives and the time horizon of investors and investment intermediaries from short-term to a long term. It will consider integrating sustainability risks in the pricing of investment products, including the event of stranded assets in investment portfolios and the cost of non-action on sustainability risks. Finally, the session will consider if the sustainable finance agenda is coherent with EU and national public policies.
Moderator: Jo Leinen MEP and member of GLOBE EU
- Nick Robins, Professor in Practice, Sustainable Finance, London School of Economics and Political Science, Grantham Institute for Climate Change and Environment
- Eric Usher, Director, UNEP FI (tbc)
- Sébastien Godinot, Economist, WWF European Policy Office
10.05- 10.45 Session 2. Sustainability indicators and classification: How to define sustainable finance?
While interest in sustainable investment has increased, there is still no harmonized set of indicators for sustainable investment, causing a lack of common understanding among investors and asset managers about what counts as “sustainable”. The second session will assess existing public and private initiatives to establish tools to measure, compare, and define sustainability.
Moderator: Sirpa Pietikäinen, MEP and President of GLOBE EU
- Olivier Guersent, Director General for Financial Stability, Financial Services and Capital Markets, European Commission
- Hans Bruyninckx, Executive Director, European Environmental Agency
- Lisa Beauvilain, Head of Sustainability & ESG, Director, Impax
- Stanislas Dupré, Chief Executive Officer, 2° Investment Initiative
10.45 – 11.00 Q&A session
11.00 – 13.00 Lunch Break
AFTERNOON SESSION 13.00 – 15.00, European Parliament, A3G-2
The afternoon session seeks to examine in more detail the appropriate role for financial markets participants across the sector, current incentives for financial market participants across the investment chain and the integration of sustainability considerations in the financial services legislative framework as a whole.
13.00 -13.10 Keynote address – Andreas Utermann, Chief Executive Officer of Allianz Global Investors, member of the GLOBE EU Bee Group
13.10 – 13.50 Session 3. Reporting and disclosure: How to provide better information to investors?
The first afternoon session looks at how to strengthen the disclosure of sustainability indicators by companies and will consider the development of a harmonized integrated reporting framework and international accounting standards for sustainability metrics. In doing so, it will explore whether reporting needs to shift from process to impact, the balance between harmonization and flexibility of different frameworks, and the role of company boards in ensuring data accuracy.
Moderator: Neena Gill MEP
- Nathan Fabian, Director of Policy & Research, Principles for Responsible Investment (PRI)
- Rhian-Mari Thomas, Chair of Green Banking Council, Barclays
- Paul Druckman, Ambassador to Prince of Wales’s Charitable Foundation, Accounting for Sustainability (A4S)
13.50 -14.30 Session 4. Right policy mix: How to make financial sector sustainable?
The session provides an opportunity to exchange views on the European Commission’s Action Plan, the first legislative proposals, and the recommendations of the European Commission High-Level Expert Group, including but not limited to the fiduciary duty of investors, benchmarks, suitability requirements, supervision, and capital requirements.
Moderator: Bas Eickhout, MEP and member of GLOBE EU
- Martin Spolc, Head of Unit for Capital Markets Union, DG FISMA, European Commission
- Joanna Cound, Managing Director, Head of Government Relations & Public Policy, EMEA, BlackRock
- Aila Aho, Executive Adviser on Sustainability, Nordea, and member of European Commission’s technical expert group on sustainable finance
- Flavia Micilotta, Executive Director, Eurosif, and member of the Commission High-Level Expert Group on sustainable finance
14.30 – 14.45 Q&A Session
14.55 – 15.00 Closing remarks, Bas Eickhout, MEP and member of GLOBE EU