Values Regulation in Europe (the VALoRE Project) is an initiative to positively influence European regulation on sustainable finance. In this field, the European Commission has developed an action plan which includes an EU classification of investments according to their level of sustainability (EU taxonomy) and a wider sustainable finance agenda.
The VALoRE Project, launched in September 2020, with support from the Open Society Foundation, seeks to positively influence both the development of this classification system and a wider Sustainable Finance Strategy agenda, with a particular focus on a social classification system.
The project has two core components:
1. The collection of best practices of Global Alliance for Banking on Values banks to inform the design, implementation, and monitoring of social sustainability and impact of banking products and services, and
2. The dissemination and advocacy of this information before high-level experts and officials in the EU and selected member countries. The year-long project represents a new opportunity to inform the future of banking. We are taking important steps to meet our commitment to lead the transformation of the financial system through this regional initiative, which is expected to have significant global implications.
Image by Anna Nekrashevich