Since the CSRD directive came into force, several major European banks and institutional investors have disclosed the CO₂ emissions financed within their value chains, but they are far from representing the entire European financial market. To date, only listed institutions have published this information in their sustainability reports. Nor do the European ESRS standards treat this information differently from other ESG data.
However, CO₂ emissions financed by financial market participants are subject to advanced methodological and statistical approaches within the Eurosystem. As part of its efforts to mitigate the risks that climate change poses to financial stability, the European Central Bank has established databases listing the financed emissions of most financial instruments in the euro area at the micro level. This information is available to national central banks in the performance of their statistical and prudential functions.
The Federal Council for Sustainable Development (FRDO-CFDD) invites you to explore these new analytical indicators and the ways in which they can be used, not only by financial regulators but also in the context of econometric research relevant to climate policy.
At the same time, we will discuss some recent developments in the (de)financing of fossil fuels by banks and major investors, and we will examine the latest trends and relevant work in the field of sustainable finance regulation at European level. We will also look at the implications of financed emissions for the analysis of transition risks associated with climate change in Belgium.
Programme
- 12:00: Welcome, registration and welcome coffee
- 1:00: Welcome and introduction – Prof. Brent BLEYS, chair of the seminar
- 1:10: Climate-related statistics for the financial sector in Belgium and transition risk supervision for banks and insurance companies – Stijn FERRARI (National Bank of Belgium)
- 1:35: Q&A
- 1:45: An analysis of transition risks in bank lending in the Eurozone – Dr. Fulvia MAROTTA (De Nederlandsche Bank and University of Oxford)
- 2:05: Recent trends in fossil energy financing – Paul SCHREIBER (Reclaim Finance)
- 2:25: Q&A
- 2:40: Coffee break
- 3:00: Panel discussion with Tsvetelina KUZMANOVA (EU Platform for Sustainable Finance and University of Cambridge), Evelyne SEL and Vanessa MATARAZZI (Federal Public Service Environment), Vincent VANDELOISE (Finance Watch). Moderator: Dr. Nathalie BOUCQUEY (FRDO-CFDD)
- 3:45: Q&A
- 4:00: Conclusions – Marc DEPOORTERE, director of the FRDO-CFDD
- 4:30: End of the seminar
Location
The seminar takes place in the Panorama room on the 5th floor of the Royal Library of Belgium, Mont des Arts 28, 1000 Brussels.
Practical information
The seminar will be held in English and there will be no translation.
Participation is free, but you are required to register in advance via this link: https://forms.cloud.microsoft/e/LncQG5stgM?origin=lprLink
It will not be possible to follow the seminar online. The power point presentations will be published on the FRDO-CFDD website.
For any questions concerning this seminar, please contact sven.vermassen@frdo-cfdd.be