In this article, we provide a high-level overview of the regulatory regime and key trends in green finance in the Europe, Middle East, and Africa (EMEA) region. This Part 1 addresses the European Union (EU), the United Kingdom, Russia, and Kazakhstan; we will continue with other key jurisdictions in Part 2 in a future issue.
There is no single definition of green (or sustainable) finance; the G20’s Sustainable Finance Study Group defines it as the “financing of investments that provide environmental benefits in the broader context of environmentally sustainable development.”
In the EU, sustainable finance refers to the “process of taking environmental, social and governance (ESG) considerations into account when making investment decisions in the financial sector, leading to more long-term investments in sustainable economic activities and projects.”
As part of the European Green Deal presented in December 2019, the EU Commission…