CMVM
skip
Language
pageBackground
Press releases

​​

CMVM signs letter of commitment for sustainable finance


15 July 2019 

 
The CMVM signed, together with 19 other entities, the Letter of Commitment for Sustainable Finance in Portugal.  This document aims to promote the incorporation of environmental and sustainability criteria in the financial sector activity with a view to achieving a carbon neutral economy by 2050.
 
This Letter establishes different commitments for the different entities involved, which are mainly segmented by groups: regulators, financial institutions and the Portuguese stock exchange, bank associations, insurers, issuers and funds, the Ministry of Environment and Energy Transition, the Ministry of Economy and the Ministry for Finance.
 
“The financial sector shall include the adequate incentives to achieve a carbon-free economy by 2050 in its investment policies and new financial product offerings, so that the private sector can access the financing necessary for investment and acquisitions for a and within a tending carbon-free society” is mentioned in the recently signed document.
 
For regulators - ASF, BdP and CMVM - the commitments are to “collaborate within their remit, analysing the role of the financial system in identifying and managing environmental risks, in the financing and investment in green and low-carbon projects within a broader context of sustainable development and in line with regulation and supervision at European level ” and “monitor and participate in future works arising from the Sustainable Finance Reflection Group”.
 
The State, as mentioned in the Charter signed on 8 July, “should play an active role in shaping and adapting the regulatory, tax and incentive system, providing clear long-term signals, facilitating the transition to a new economic growth model based on investment in sustainable projects and activities.”​
 
The signing of the Letter of Commitment took place during the conference "Roadmap for Carbon Neutrality 2050: The Role of Sustainable Finance".