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Summary
Climate change continues to take centre stage on the European regulatory agenda. The EU committed to transition its economy to a sustainable economic model, achieving climate neutrality by 2050. A set of new regulations and initiatives to stimulate the sustainability transition is constantly emerging including in the financial sector. To foster transparency, the EU put forward a number of key legislative proposals, such as the Corporate Sustainability Reporting Directive (CSRD), which will be further complemented by a set of European Sustainability Reporting Standards as well as the Taxonomy Regulation and the Sustainability Financial Reporting Directive (SFDR) and disclosures for banks related to ESG risk (Pillar 3 reporting).
The Pillar 3 disclosure requires European banks to publish a draft of qualitative and quantitative information on transition and physical risks, exposures to at-risk sectors and lending to green activities on a semi-annual basis. Banks will also have to report their Green Asset Ratio, which measures the extent to which bank’s activities are aligned with the EU Taxonomy. In this webinar we will discuss how these regulations impact European banks and their clients and what are the challenges.
Join our panelists as they discuss:
- What are the Pillar 3 disclosure requirements and the Green Asset Ratio?
- How are Pillar 3 and Green Asset Ratio reporting impacting banks and how are they preparing?
- How do international initiatives like the Net-Zero Banking Alliance and existing legislation (e.g., CSRD, SFDR) interact and how does this impact banks’ reporting?
- How is ESG likely to evolve, what challenges lie ahead, and how can they be overcome?
Speakers
Karen Degouve
French Banking Federation
Head of Sustainable Finance
Karen Degouve is currently Head of Sustainable Finance at the French Banking Federation (FBF).
Karen Degouve is currently Head of Sustainable Finance at the French Banking Federation (FBF). Her role is to coordinate sustainable finance development across French banking groups, including climate action, onboarding of biodiversity issues, ESG risks, sustainability reporting and cover all sustainable finance regulation. Since 2021, she has also been co-leading the implementation work of the industry-led and UN-convened Net Zero Banking Alliance (NZBA), which brings together over 100 banks worldwide committed to aligning their lending and investment portfolios with net-zero carbon emissions by 2050.
She was previously head of Sustainable Business Development at Natixis, the international corporate and investment banking and asset management arm of Groupe BPCE.
S&P Global Market Intelligence
Cathal McElroy
S&P Global Market Intelligence
Reporter, European Financial Institutions
Cathal McElroy is a reporter for S&P Global Market Intelligence's European Financial Institutions team.
Cathal McElroy is a reporter for S&P Global Market Intelligence's European Financial Institutions team. His coverage encompasses the listed European banking sector, with a particular focus on the French and Spanish markets. Cathal has 14 years' experience as a journalist, almost all of which has been spent writing about businesses across a range of sectors. His first job in journalism was with the BBC, before moving to the Middle East where he reported on the region's construction industry. He then spent two years as editor of Bloomberg Businessweek's Middle East edition, devoting significant coverage to the region's burgeoning banking sector. Cathal joined S&P Global in 2016 when he moved back to the UK to return to his passion for writing, taking a role as a reporter on the European real estate sector. He transferred to his current position on the European FIG team in March 2021.
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