欧洲银行管理局：2020年可持续金融报告（英文版）（48页）.pdf

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1、 EBA STAFF PAPER SERIES N. 6 JANUARY 2020 SUSTAINABLE FINANCE MARKET PRACTICES by Adrienne Coleton, Maria Font Brucart, Pilar Gutierrez, Fabien Le Tennier incorporation of sustainability into business strategies; governance, policies and risk management applicable to ESG risks; ESG and climate-relat

2、ed disclosures; and green financial products. KEYWORDS ESG, ESG risks, sustainable finance MARKET PRACTICES SUSTAINABLE FINANCE Page 3 EBA STAFF PAPER SERIES CONTENTS Introduction 5 Initiatives to date 5 Why are banks reacting to the sustainable finance issue? 6 Definitions of environmental, social

3、and governance criteria 7 Definitions of ESG factors 8 International initiatives 8 Banks own definitions of ESG factors 10 Are there common definitions? 10 Strategy 11 Incorporation of sustainability into business strategy 11 Direct and indirect impacts of activities financed by banks 13 Challenges

4、14 Governance, policies and risk management 15 Environmental, social and governance risks 16 Approaches to risk management 16 Climate-related risk management by banks 17 Physical and transition risks 19 Time horizon 20 Scenario analysis 22 Disclosures 23 Environmental, social and governance disclosu

5、res 24 Climate-related disclosures 25 Implementation of the TCFD recommendations at international level 25 Implementation of TCFD recommendations at the EU level 27 Benefits and challenges of TCFD implementation according to EU banks 30 Commissions non-binding guidelines 31 Other comments raised by

6、institutions and the way forward 31 Green products 31 Green finance and development of a green financing framework 31 Market developments 33 Green bonds 33 Green assets/loans 33 External verification and ESG issuer ratings 34 The EBAs monitoring of green finance market developments 35 Green bond iss