Sustainable financing workshop

The aim of the workshop was to initiate a more active focus of the business entities on national level towards sustainability and regulation related to sustainable financing. The workshop was organized for the industry and the financing sector since the EU legislation implementation activities were related to sustainable financing. At the workshop, which hosted more than one hundred participants, relevant representatives of competent authority presented key actions related to the transposition of the EU regulation on the national level.

With the adoption of the European Green Plan, the European Commission has defined an extremely ambitious goal by which it wants to achieve climate neutrality by 2050. With the aim of mobilizing significant capital and redirecting it to sustainable economic activities, the European Commission has defined a comprehensive and far-reaching set of regulations and measures - a new framework for sustainable financing. This package includes, among others, the Taxonomy Regulation (Regulation (EU) 2020/852 of the European Parliament and of the Council establishing a framework to facilitate sustainable investment and amending Regulation (EU) 2019/2088), the SFDR Regulation (Sustainable Finance Disclosure Regulation). (EU) 2019/2088 of the European Parliament and of the Council on disclosures related to sustainability in the financial services sector), the Corporate Sustainability Reporting Directive (CSRD) and their implementation requires significant involvement of all sectors of the economy, especially the financial sector will play a significant role in this transition.

Some of the questions answered at the workshop include: What does the new classification framework provide for determining the criteria under which economic activities can be considered "sustainable" (EU taxonomy)? What does this new regulation bring? What are the new requirements for financial market participants and financial advisers regarding the publication of sustainability data, and which are the requirements for companies obliged to prepare non-financial reports? How compliance with commitments is progressing, what are the issues and concerns.

During this, the first in a series of workshops on sustainable financing participants were able to get answers to these questions while representatives of the financial sector received additional information on their obligations and representatives of the economy received basic information about the new obligations that they need to begin with in order to meet the 'green classification' criteria.

The workshop was held as a partnership event within the framework of the European Green Week.

Published on February 3, 2022