PRI’s Nathan Fabian to chair EC Platform on Sustainable Finance
The Platform on Sustainable Finance, as required by the Taxonomy Regulation, will advise the European Commission on the development of robust, science-based technical screening criteria for the EU taxonomy and policy development. The Commission has selected 50 members and nine special observers based on their environmental, sustainable finance or social/human rights expertise.
The members include key EU institutions such as EIOPA, ESMA, EBA, EIB, in addition to NGOs, trade and business associations, academia and research institutes and also individual entities such as Airbus, Allianz SE, BNP Paribas and Bloomberg. The observers include UNEP FI, OECD, ESM and ECB, to name a few.
PRI’s Nathan Fabian, who has 15 years of experience in sustainable finance in government policy, investment research and ratings on companies, and the development of investment processes and tools, has been appointed as the platform’s chair. He was also the rapporteur for the taxonomy sub-group of the Technical Expert Group on Sustainable Finance (TEG).
“This Sustainable Finance Platform will provide valuable ideas and input in our work to drive green finance forward and to develop the taxonomy, which will play a crucial role in channelling investment into green economic activities,” said Valdis Dombrovskis, Executive Vice-President, European Commission. The platform will reach out to a range of stakeholders through public consultations and targeted outreach, also involving the scientific community to strengthen further the impartiality of the EU Taxonomy.
The Platform on Sustainable Finance will support financial markets to steward and allocate their capital to activities that contribute substantially to Europe’s sustainability goals, wrote Nathan Fabian, in a blog on the subject. “The Taxonomy is the foundation on which these decisions can be based, ensuring that for the first time, we will know how much of our capital is sustainable and how much is not,” he added. Fabian will continue his role in the PRI in addition to his new responsibility as the Chair of the platform.