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ICMA summarises and comments on EU TEG reports and status of EU sustainable finance plan
21 June 2019 Following the publication in March 2018 of the Action Plan on sustainable finance of the European Commission, the Technical Working Group on Sustainable Finance (TEG) was established in June 2018.  ICMA, with the support of the GBP SBP Executive Committee, was nominated on the TEG following a highly selective process. The TEG has held monthly working group and plenary meetings since its inception and its mandate has now been extended until the end of 2019.  

The TEG published on 18 June 2019 reports and guidelines relating to its 4 key deliverables:

• EU Taxonomy for sustainable activities  
• EU Green Bond Standard  
• EU climate benchmarks and benchmarks' ESG disclosures
• Guidelines on the disclosure of environmental and social information
 
ICMA has published a paper providing an overview and comments on these reports. It also provides in Annex 1, an update on the parallel EU legislative initiatives on sustainable finance that are under way reflecting the Commission's legislative proposals of May 2018.



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