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EU and international sustainable finance and ESG weekly round-up: ESMA fund naming and ratings, COP29 finance, ESAs 2025, climate risk, UNEP FI, ICMA commercial paper—10 October 2024

Published on: 10 October 2024

Published by a LexisNexis Banking & Finance expert
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EU developments

EFAMA flags that ESMA's new Fund Naming Guidelines limit EU sustainable investment

The European Fund and Asset Management Association (EFAMA) has cautioned that the European Securities and Markets Authority’s (ESMA) proposed Fund Naming Guidelines are not compliant and conflict with existing sustainable finance frameworks, such as the EU Green Bond Standard. EFAMA indicates that this misalignment could narrow the investable universe for green bond funds and, in consequence, impede the expansion of the EU corporate green bond market. See: LNB News 08/10/2024 42. Source: Fund naming guidelines put growth of corporate green bond sector at risk.

Council of the EU approves climate conclusions ahead of COP 29 meeting

The Council of the EU has endorsed conclusions on climate finance in advance of the United Nations Framework Convention on Climate Change (UNFCCC) session in Baku, Azerbaijan, running from 11 to 22 November 2024 (COP 29). The conclusions stress that the EU and its Member States remain committed to the existing target for developed nations to collectively mobilise US$100bn each year in climate finance through 2025, a milestone first achieved in 2022. See: LNB News 08/10/2024 62...

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