It is exciting to be a pioneer, breaking new ground, exploring uncharted territory, and looking for vantage points that offer clarity and direction! However, it also means backbreaking work, frequent setbacks, and occasionally getting lost.
From the very beginning, the EU’s sustainable finance regulators set out to be such pioneers, designing ground-breaking new rules, reshaping the market for sustainable investment, encouraging greater disclosure, and setting a benchmark for the rest of the world.
In this edition of NordSIP Insights, we check on the expedition’s progress so far. We find out that while moving steadily forwards and upwards, the explorers have also encountered some serious obstacles and are, at times, unable to live up to everyone’s high expectations.
We take the pulse of those leading the expedition, both visible and hidden heroes who persevere with carrying the heavy task of seeing the project through. We also talk to those on the ground, following the progress of the pioneers closely and hoping for a clear and comprehensive map to navigate the treacherous landscape.
Much of the primary legislation is already in place, yet more detailed rules necessary to implement the package are still in the works. Will the EU Taxonomy, with all its extensions and additions, ever be complete? And is the already twice postponed Level 2 of SFDR going to answer all the remaining questions? With MiFID knocking on the door, how will asset managers align all the piling requirements?
It’s a long way to the top…
Tired of flipping the book? Access individual articles or download the pdf here!
1. the editor’s word: Tracking the EU’s sustainable finance expedition
2. The Benchmarked Path to Net Zero, by UBS Asset Management
3. The EU Taxonomy Through the Eyes of Sherpas, an interview of Nadine Viel Lamare, Naturvårdsverket and Fabiola Schneider, UCD Michael Smurfit Business Graduate School, Dublin
4. Getting in Line: Green Bonds and the Green Taxonomy, an interview of Isobel Edwards, NN Investment Partners
5. Wake Up and Smell the Taxonomy, an interview of Sean Kidney, Climate Bond Initiative
6. A Year With SFDR
7. We Need More Information, Not More Standards, an interview of Hanna Kaskela, Varma
8. Nordic FSAs to Tackle Greenwashing in 2022, an interview of Theodor Joachim Christensen, Finanstilsynet, Nina Männynmäki, Finanssivalvonta and Johanna Fager Wettergren, Finansinspektionen
Tired of flipping the book? Access individual articles or download the pdf here!
