October 22, 2019

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EU TEG On Sustainable Finance Publishes Proposal For EU Green Bond Standard

In June 2019, the European Commission (EC) Technical Expert Group (TEG) on Sustainable Finance, published its Report on EU Green Bond Standard. The report proposes the creation of a European Union (EU) Green Bond Standard (EU-GBS) to address barriers to market development of green financial products. Also proposing the establishment of a framework to facilitate sustainable investment -- “Taxonomy Regulation” -- TEG makes ten recommendations in its GBS Report to:

  1. Create a voluntary EU-GBS;

  2. EU-GBS should have four core components -- (1) alignment of Green Projects with the EU Taxonomy, (2) Green Bond Framework, (3) reporting, and (4) verification by accredited verifiers;

  3. Encourage set-up of a voluntary interim registration process for verifiers of EU Green Bonds for an estimated transition period of up to three years;

  4. Encourage investors to use EU-GBS requirements in their green fixed-income investment strategies and communicate their preference actively to green bond issuers and underwriters;

  5. Welcome political compromise on the sustainability-related disclosure regulation;

  6. Consider promoting greening the financial system;

  7. Consider development of financial incentives supporting the EU Green Bond market;

  8. Encourage bond issuers to issue their green bonds in accordance with EU-GBS requirements;

  9. Promote adoption of EU-GBS through the EU Ecolabel for financial products; and

  10. Monitor impact on the alignment of financial flows with the EU Taxonomy’s Environmental Objectives, considering further supporting action.

©2019 Bergeson & Campbell, P.C.

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Lynn Bergeson, Campbell PC, Toxic Substances Control Act Attorney, federal insecticide lawyer, industrial biotechnology legal counsel, Food Drug Administration law
Managing Partner

Owner of Bergeson & Campbell, P.C. (B&C®), Lynn L. Bergeson has earned an international reputation for her deep and expansive understanding of the Toxic Substances Control Act (TSCA), the Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA), European Union Registration, Evaluation, Authorization and Restriction of Chemicals (REACH), and especially how these regulatory programs pertain to nanotechnology, industrial biotechnology, synthetic biology, and other emerging transformative technologies. Her knowledge of and involvement in the policy...

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Ligia Duarte Botelho Bergeson Campbell Manager
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Ligia Duarte Botelho, M.A., Manager with B&C® Consortia Management, L.L.C. (BCCM), assists consortia in reaching and exceeding their institutional goals in policy advocacy, public outreach, product stewardship, and testing and compliance.  Ms. Botelho offers BCCM clients the significant experience she gained as manager of a national medical science research and policy consortium, with a demonstrated excellence in synthesizing and communicating effective advocacy messages in her work with academic, global health, and science institutions.  Ms. Botelho holds a Master’s degree in Public Policy from Kings College London, is fully trilingual (English, French, and Portuguese), and has experience working with government agencies in the U.S., Europe, and Southeast Asia.

Ms. Botelho’s administrative and management support services include organizing and administrating conferences and annual meetings, managing budgets, leading membership recruitment, and building consensus on strategic goals.  She also tracks pertinent regulatory issues, alerting consortium members promptly of relevant industry or government developments, and assists in the preparation of comments submitted to government agencies.

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