Sustainable finance: The European Commission welcomes Japan as a member of the International Platform on Sustainable Finance

At today’s EU-Japan Forum on Financial Regulation, the European Commission welcomed Japan as the latest member of the International Platform on Sustainable Finance (IPSF). The IPSF was created in October 2019 as part of international efforts to meet the commitments of the Paris Agreement. It is a multilateral forum of dialogue between policymakers that are in charge of developing sustainable finance policy. The work of its Members focuses particularly on initiatives in the areas of taxonomies, disclosures, standards and labels, which are fundamental for investors to identify and seize worldwide investment opportunities that contribute to climate and environmental objectives. Commissioner for Financial Services, Financial Stability and Capital Markets Union, Mairead McGuinness said: ”Japan’s decision to join the International Platform on Sustainable Finance is very welcome news. And, I hope that it will inspire other countries to join this important initiative. International cooperation on scaling up green investment and in addressing the climate challenge is essential. The International Platform on Sustainable Finance plays a critical role in ensuring that we work together – globally.” Japan will co-chair the newly created IPSF working group on sustainability-related disclosure, along with Switzerland and the EU. The IPSF published its first report in October: IPSF Annual Report; IPSF 1 Year Anniversary Event. A joint statement is available online.