Michael Hurley

EU Platform begins transition plan work as it denies EU neglects issue

A commonly held perception that the EU's sustainable finance framework does not support 'transition' activities is "wrong", the chair of an independent EU advisory group has said, as it begins work on what good transition plans look like.

EU taxonomy reporting metric is too simplistic, banking group says

The disclosure of a 'green asset ratio' required by the EU taxonomy regulation is too simplistic to be relied on as a comparison of banks' climate transition efforts, according to the European Banking Federation (EBF).

EU wants to boost green loan market, senior commissioner says

The EU wants to boost the market for green loans and is "looking very closely" at recommendations to develop a voluntary label, the European Commission's finance lead has said.

'Underfunded' hydrogen bank a gap in EU's riposte to US IRA, investor says

The EU's Hydrogen Bank is "underfunded", creating a major gap in the bloc's efforts to respond to the US Inflation Reduction Act (IRA) and spur investment in renewables, according to one of the world's largest specialist investors in wind and solar energy.

MEPs agree two-year delay to EU sector-specific reporting standards

ECB uncovers 'staggering' misalignment of bank lending with climate targets

'Staggering' misalignment of Eurozone bank lending portfolios with climate targets has been uncovered by the European Central Bank (ECB), as it warned of a pressing need to act amid rising litigation, financial and reputational risks.

ESG ratings failure lands real estate investor in hot water with French regulator

A real estate investor has been hit with the prospect of a fine for failures relating to how it used ESG scores to inform its investments.

Users may need to tweak our climate scenarios, says NGFS

Users of models to project the impacts of climate "should determine and be prepared to justify" which scenarios best suit their needs, the Network for Greening the Financial System (NGFS) has said.

EFRAG consults on SMEs European Sustainability Reporting Standards

European Sustainability Reporting Standards (ESRS) for small and medium-sized enterprises (SMEs) have been published for consultation.

French regulator turns mystery shopper to check asset managers live up to sustainability promises

France's financial markets regulator will conduct spot checks of asset managers to check whether their voting and engagement practices meet the standards claimed in their marketing.