On 8 March 2018, the European Commission published a communication containing its action plan on financing sustainable growth, together with a set of frequently asked questions and a factsheet.

The Commission's proposals include:

  • establishing a unified EU classification system for sustainable finance;
  • creating EU labels for green financial products on the basis of this EU classification system;
  • clarifying the duty of asset managers and institutional investors to take sustainability into account in the investment process and enhance disclosure requirements;
  • requiring insurance and investment firms to advise clients on the basis of their preferences on sustainability;
  • incorporating sustainability in prudential requirements;
  • enhancing transparency in corporate reporting.

The Commission is holding a high-level conference to discuss the action plan on 22 March 2018