"As Europe's largest institutional investors, the insurance industry therefore welcomes an EU GBS, agrees with its proposed components and appreciates that it seeks alignment with the EU taxonomy for sustainable investments," the institution mentions
According to Insurance Europe, the EU GBS can help facilitate investors' trust in the green bond market by ensuring that:
- covered projects are aligned with the EU Taxonomy through to their maturity;
- investors are provided with enough transparency and access to reliable/usable information.
The establishment of an EU GBS also has the potential to become a global standard for green bonds. This would put the EU in a leadership position in the sustainability agenda, while creating a level playing field for European investors.