On 12 February, Steven Maijoor delivered a keynote speech on sustainable financial markets at the European Financial Forum in Dublin.
In his speech, Mr Maijoor discussed the role of regulatory authorities in tackling climate change. He acknowledged that financial markets are at a point of change, as investor preferences are moving towards products that incorporate ESG factors, which themselves are increasingly affecting the risks, returns and value of investments. Mr Maijoor noted that “key pillars” supporting the move towards a more sustainable financial system are the measurement, verification and disclosure of these ESG factors and he highlighted the importance of the role of public authorities in stepping in to establish reliable ESG standards. He added that these authorities must provide strong supervision of the relevant actors and products in order to prevent the risk of greenwashing.
Mr Maijoor concluded by confirming ESMA’s commitment to contribute to the shift towards a sustainable financial system in Europe by supporting the necessary measures across the whole investment chain.