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Parliamentary question - E-003883/2016(ASW)Parliamentary question

Answer given by Vice-President Dombrovskis on behalf of the Commission

The Commission has already launched several initiatives on various aspects of green, sustainable finance including a study on the potential of the green bond market and a public consultation on the extent to which institutional investors are taking environmental, social and governance (ESG) issues into account.

At international level, important work on ‘green finance’ is underway, which the Commission is following closely, such as the G20 Study Group on Green Finance (GSFG) and the Financial Stability Board's (FSB) industry-led Task Force which is developing guidelines for voluntary company disclosures on climate-related financial reporting.

Based on this work, the Commission will analyse possible ways forward in the EU. The Commission will take into account the findings of the FSB Task Force when preparing its own non-binding guidelines, by end of 2016, on non-financial reporting for larger companies.

The Commission will continue its work on sustainable finance in the international context in order to further develop the European dimension in line with the EU climate and environmental objectives.