One of the board members joined an asset owner round table in Brussels beginning in 2018 by invitation of the European Commission to the workshop on designing methodologies of EU low carbon benchmarks - Technical Expert Group on sustainable finance, low-carbon benchmark and the positive carbon impact benchmarks (European Commission, Directorate General, Financial Stability, Financial Services and Capital Markets Union. Unit C3 - Securities Markets, in Brussels)
The mandate of the meeting was:
- to provide minimum standards for the methodologies of low carbon benchmarks and positive carbon impact benchmarks
-to promote common standards to calculate the carbon footprint and carbon savings associated with the underlying assets
-to increase the transparency and addressing the risk of 'greenwashing' for ESG benchmarks
In addition a Board member of VBV participates in workshops of the so called "Focal Group Green Finance". This group was set up in a cooperation between the Ministry of Finance and the Ministry for Climate Action, Environment, Energy, Mobility, Innovation and Technology with some other market participants, in order to improve sustainability standards in Austria's financial industry.