EU Sustainable Finance: HLEG Interim Report: Invitations: London and Brussels Briefings:

Green finance directions emerge from HLEG process: Feedback sought for final report. If you can’t be in Brussels come to the London Briefing July 20th.


What’s it all about

The EU High Level Expert Group on Sustainable Finance has just released its Interim Report and is seeking stakeholder comment and feedback prior to the final report being released in December.


What’s in the Interim Report?

The Interim Report identifies a number of directions to build green finance and investment in the EU in order to meet the Paris climate and emissions reduction goals and also ensure the financial system is contributing to long term sustainable economic growth and positive social development.


In summary, the early recommendations of the HLEG are to:

  • Develop a classification system for sustainable assets
  • Establish a European standard and label for green bonds and other sustainable assets
  • Clarify that fiduciary duty encompasses sustainability
  • Strengthen ESG reporting requirements
  • Introduce a 'sustainability test' for EU financial legislation
  • Create 'Sustainable Infrastructure Europe' to channel finance into sustainable projects
  • Enhance the role of the ESAs in assessing ESG-related risks
  • Unlock investments in energy efficiency through relevant accounting rules


An EU Wide Approach to Green Bond Standards & Labelling?

Such a move would accelerate green bond markets in the EU and attract significant capital commitments from institutional investors and pension funds. 

Larger green debt markets would also support the HLEG recommendation around channelling more finance into sustainable infrastructure projects. 

An EU wide standard and label for green bonds would also provide a powerful signal to potential sovereign issuers and boost the development of nascent green bond markets in emerging economies.

In combination, this sequence could go a long way towards reaching the $1trn by 2020 green bonds milestone, part of the six point plan to slow emissions growth outlined by global climate leaders in a recent statement published in Nature Magazine. 


How do I find out more?

If you’re in Brussels:

The European Commission will be hosting a public hearing on sustainable finance on Tuesday 18th July to launch a public consultation on the Interim Report. The hearing itself will also allow stakeholders to provide feedback and responses to the HLEG on the Interim Report.

You can register here


But if you’re in London?


Invitation: Interim Report London Briefing-July 20th 

London-based members of the HLEG are undertaking a consultation with key stakeholders to review the Interim Report and its recommendations on the 20th July

This event is being convened by Climate Bonds Initiative and the Cambridge Institute for Sustainable Leadership (CISL) in association with UNEP, and is kindly hosted by Norton Rose Fulbright. 

RSVP here.



The day will commence with an introduction by Jacqueline Heng of Norton Rose Fulbright. 

This will be followed by an overview on the Interim Report from HLEG members, and then a Q/A session. 


Confirmed Discussants:  

Nathan Fabian, PRI

Paul Fisher, Cambridge Institute for Sustainability Leadership

Sean Kidney, Climate Bonds Initiative

Sara Lovisolo, London Stock Exchange Group 

Richard Mattison, Trucost (S&P Global)

Nick Robins, UNEP Inquiry


Focused Feedback: 

After the morning coffee break, there will be an opportunity to participate in more focused discussions on topics in the Interim Report to generate immediate feedback for HLEG members. 

A luncheon and networking will take place at the conclusion of these discussions.


Interim Report: London Agenda  

Where:         Norton Rose Fulbright

                     3 More London Riverside, SEI 2AQ

When:          Thursday July 20th 2017          8.00-1.30pm 

Agenda:       Coffee and Pastries                  8.00-9.00am

                     Remarks by Jacqueline Heng   9.00-9.10am

                     Interim Report Overview           9.10-10.30am

                     Q&A                                         10.30-11.00am

                     Coffee Break                           11.00-11.30am

                     Focused Discussions              11.30-12.00pm

                     Luncheon and Networking      12.00-1.30pm


Registration and Additional Information

Please RSVP here or contact Aneil Tripathy ( for further information. 


The Last Word

We hope to see you at Norton Rose on the 20th!


'Till next time,

Climate Bonds



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