Bucharest, 18 November 2021 - As of today, a new section dedicated to sustainable finance and green transition is available on the Financial Supervisory Authority's website www.asfromania.ro (English version for this new section will be available as soon as possible on website)
In the context of European sustainable development initiatives in recent years, there is a growing concern to transform the financial sector in order to gain the capacity to finance long-term, sustainable projects, as the challenges of global climate change are coupled with the impact of the COVID-19 pandemic.
"To this end, the Financial Supervisory Authority is keen to monitor how entities in the non-bank financial markets decide on future investment plans taking into account environmental, social and governance factors (ESG factors). In this way we can see how longer-term investments in sustainable economic activities and projects are being directed. I would also like to recall that the markets supervised by the Authority will have to incorporate specific development directions to significantly reduce climate risk", says Mr Nicu Marcu, President of the Financial Supervisory Authority.
The new section of the ASF website provides access to European and national legislation on this issue, as well as recommendations and information that may be considered useful for entities operating in the non-banking financial market to address this area.
The section will be developed with new information, data and approaches as they become available.