Consultatie klimaatmaatregelen financiële sector

The Dutch Official Gazzette Overheid.nl published a consultation regarding potential legal or alternative measures to strengthen the contribution of financial institutions to climate transition and weighs the desirability of national legislation in the context of evolving European regulations.
The consultation discusses the relationship with existing and future European legislation, as the CSRD, SFDR, Taxonomy regulation and CSDDD. European regulations on sustainable financing, initiated in 2018, focus on redirecting capital flows toward sustainable investments, managing financial risks related to climate change, and promoting transparency in financial and economic activities. The EU has established a sustainable financial framework comprising a taxonomy, improved information disclosure, and benchmarks.
The consultation objective is to explore whether and, if so, which legal or alternative measures can strengthen the contribution of financial institutions to climate transition, and how they could be shaped. The consultation examines the pros and cons of potential legislation, taking into account European developments, the potential impact of climate legislation on the financial sector’s financing of Dutch businesses, and international competitiveness.
The consultation explicitly seeks alternatives to legislation that can enhance the financial sector’s contribution to energy transition.
The content of this consultation builds upon three directions outlined in the parliamentary letter on the progress of the financial sector’s climate commitment dated 13 March 2023, including a legal obligation to align financings and investments with the goals of the Paris Climate Agreement; a requirement to develop a climate plan with specified content and an obligation to implement the plan; and an extension of legal requirements for engagement policies.
These directions align with the voluntary climate commitment of the financial sector, adhering to the principle of aligning government intervention with existing forms of self-regulation.
Consulting on these three directions does not imply a conclusion that national legislation is necessary or desirable, and participants are encouraged to propose additional directions.
Furthermore, the consultation’s proposed directions go beyond European regulations on sustainable financing, focusing on goals and actions rather than classification and disclosure. They differ from initiatives addressing sustainability-related financial risks, emphasizing how companies can positively contribute to the sustainable transition.
This consultation document outlines a series of questions regarding the potential implementation of climate-related measures for the financial sector. The consultation begins with general overarching questions, followed by specific inquiries related to to each developed direction. It addresses the impact on business and seeks opinions on legislative commitments, climate plan obligations, and engagement policies. Questions also consider the effects on SME financing and the alignment with EU norms.
Stakeholders are invited to provide written feedback by 15 february 2024.