BNP Paribas AM to host EU taxonomy debate

Panel will be moderated by Nathan Fabian of the PRI

BNP Paribas Asset Management (BNPP AM) has confirmed it will convene a panel debate about the EU sustainable taxonomy at COP25 in Madrid.

The debate, on behalf of the European Commission’s Technical Expert Group on Sustainable Finance, follows the provisional agreement on the taxonomy legislation which was reached by the European Parliament, the European Commission (EC) and the European Council on 5 December nearly two years after the EC first proposed the taxonomy.

The panel will be moderated by Nathan Fabian of the Principles for Responsible Investment and will be attended by EU vice president Valdis Dombrovskis, who is responsible for the EC’s Sustainable Finance agenda.

BNPP AM’s global head of stewardship and policy Helena Viñes Fiestas has been confirmed as a panellist.

BNPP AM said the panel will “explore the design and future use of the taxonomy by investors around the world and examine how the taxonomy will satisfy investors’ growing demands to know if their activities are truly consistent with the goals of the Paris Agreement”.

Viñes Fiestas congratulated the EU Commission, Council, European Parliament and Finnish Presidency on reaching a provisional political agreement on the EU sustainable finance taxonomy and said that in March this year BNPP AM had committed to tracking, monitoring and reporting on the green share of its assets under management as much as possible while the taxonomy continued to develop.

She added: “It will help us identify better investment opportunities, and create green portfolios and better manage their environmental risks. 

“It will reassure clients that our products are making a positive environmental contribution, and ultimately, will help us raise much needed funding for the transition to a carbon neutral and environmentally sustainable economy.”

The provisional agreement is still subject to approval by the European Parliament and EU Council.

COP25 is taking place in Madrid from 2 December to 13 December, with more than 25,000 representatives from 200 countries expected to attend.