This note summarizes the input provided to the Inquiry at a meeting with representatives from the Dutch financial sector ranging from public policymakers and regulators to the largest banks, asset managers, insurance companies and sustainable frontrunners. The policy recommendations include best practices, financial market policy and regulatory innovations to help bring about the green economy
This paper investigates various roles that finance ministries can assume to promote those policies, regulations and standards which help to create a sustainable financial system. Finance ministries typically interact with the financial sector in many ways, from regulator and supervisory mandate setters to tax authority and sovereign debt issuers. All of these points of leverage
This report presents a stock-take of actions under way at the European Union level and in selected Member States to align the rules governing the financial system with environmental sustainability. Looking across the range of innovations across the EU, five broad policy priorities emerge. The central challenge of financing sustainable development in the EU is
The Dutch financial sector has been a driving force for the setting of global standards for greening finance, like the Equator principles, the UNPRI and the Principles for Sustainable Insurance.Dutch banks are also increasingly integrating Environmental, Social and Governance (ESG)issues into their credit decisions and risk models. Several Dutch financial institutions have set ambitious targets in relation to the climate impact of their portfolios. he investment organization of ABP, the Dutch pension fund for civil servants and teachers, has analysed the risk exposure of its investments stemming from stricter government measures to combat climate change. However following the financial crisis it is also increasingingly recoginsised that the risk-return approach is limited, and a discussion of values and purpose need to introduced. Recently the Dutch banking sector adopted its ‘societal statute’ in which the banks define their role in society as helping society to overcome the challenges such as climate change and health care. All Dutch bankers must also pledge an oath promising to carefully balance the interests of all stakeholders of the bank: its employees, shareholders, clients and society at large.