On May 11, the International Capital Market Association’s (ICMA) Sustainable Finance Committee published a report setting out its proposed high-level definitions for the most frequently used terminology in the sustainable finance sector (the Report).
The ICMA aims to ensure that all participants and stakeholders use common and transparent vocabulary when discussing sustainable finance. The Report defines key terms, such as climate finance, impact finance, green finance and social finance.
For more information on initiatives around the classification of sustainable finance, please see the Taxonomy Regulation article in the January 10 edition of Corporate & Financial Weekly Digest, and the article on the House of Commons EU Scrutiny Committee’s letter to HM Treasury regarding the application of the taxonomy regime in the UK in the May 8 edition of Corporate & Financial Weekly Digest.
The Report is available here.