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Esma creates network on sustainability regulation

sustainability regulationsThe European Securities and Markets Authority (Esma) has set up a network of regulators focused on sustainability, appointing Ana María Martínez-Pina Garcia as its chair for two years.

The Coordination Network on Sustainability (CNS) will work with national competent authorities developing policy and integrating sustainability considerations in financial regulations.

According to the authority, the European Union aims to shift towards a “more sustainable financial system” in both the medium and long term.

“Esma and European securities regulators should make sustainable finance an integral part of their supervisory and enforcement activities,” the organisation said.

Martínez-Pina Garcia, who is vice-chair of the Comisión Nacional del Mercado de Valores (CNMV) (The National Securities Market Commission) in Spain, also leads a workstream on sustainable finance at the International Organization of Securities Commissions, and at CNMV.

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