In 2015, governments around the world adopted the Paris Agreement on climate change and the United Nations (UN) 2030 Agenda for Sustainable Development. The financial system can contribute to implementing the commitments undertaken and achieving sustainability and climate-related objectives. Environmental, social, and governance (ESG) investing has been gaining traction among investors over the past decade and is a leading form of sustainable finance. The U.S. Securities and Exchange Commission recently proposed rules to enhance and standardize climate-related disclosures for investors. However, challenges remain, in particular with regard to the comparability of ESG criteria, because there are no uniform definitions of green or sustainable investments. The EU, for example, has therefore developed a classification system (EU taxonomy) that would provide companies, investors, and policymakers with the tools to judge which economic activities can be considered environmentally sustainable.
Please join us for the Law Library’s upcoming webinar Sustainable Finance – European Green Bonds and the ECB’s Climate Change Agenda at 2pm EDT on Thursday, April 14, 2022. This webinar is the latest installment in the Law Library’s series of webinars focused on foreign and comparative law. It will discuss green and sustainable finance with a focus on measures in the European Union (EU). In its 2018 action plan on financing sustainable growth, the European Commission set out the EU strategy to connect finance with sustainability. In particular, the webinar will discuss the EU’s Sustainable Finance Disclosure Regulation, which contains transparency rules for financial market participants and financial advisers; the European Commission’s proposal to establish an official EU standard for green bonds; and the European Central Bank’s action plan to include climate change considerations in its monetary policy strategy. Similar proposals from other jurisdictions, such as Switzerland, will be highlighted.
The webinar will be presented by Jenny Gesley, foreign law specialist in the Global Legal Research Directorate of the Law Library of Congress. Jenny holds a Master of Laws from the University of Minnesota Law School, a Juris Doctor equivalent from the Goethe University of Frankfurt, Germany, and a doctorate in law. Her doctoral dissertation on “Financial Market Supervision in the United States: National Developments and International Standards” (in German) was awarded the Baker & McKenzie Award in 2015. Dr. Gesley is admitted to the New York State bar and is qualified to practice law in Germany.
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