NCAs of Malta, Poland, Croatia and Romania set to improve ESG capacities as a part of an EU-sponsored project

1 February 2023 — Daniela GHETU
The national competent authorities of Malta, Poland, Croatia and Romania have joined in the EU multi-country project Sustainable Finance - Supervisory Capacity Enhancement, aiming to enhance their expertise in the field of the EU's sustainable financial framework.

The project is funded by the European Union via the Technical Support Instrument (TSI), in cooperation with European Commission's Directorate-General for Structural Reform Support and a support provider under a contract awarded by the European Commission.

The EU sustainable finance framework has a crucial role in delivering on the policy objectives under the European Green Deal. The European Green Deal has made numerous ambitious commitments, in particular, to make Europe the first climate-neutral continent. It aims to make all sectors of the EU's economy fit to meet this challenge. This new framework will facilitate these goals by enabling public and private stakeholders to channel finance to investments that reduce exposure to climate and environmental risks.

Regulatory requirements also bring significant challenges not only for the financial and non-financial institutions but also for the national competent authorities. Therefore, the main objective of the project is to contribute to institutional, administrative, and growth-sustaining reforms by providing support to the national competent authorities in building and enhancing their supervisory capacities in the field of sustainable finance. The project includes a tailor-made approach to each authority and ensures a harmonized approach for common aspects.