On July 15, ISDA submitted a response to the European Commission’s (EC) consultation on its Renewed Sustainable Finance Strategy. ISDA provided responses either in standalone form and/or in coordination with the Association for Financial Markets in Europe (AFME) to Questions 3, 7, 15, 18, 29, 30, 33, 34 36, 39, 52, 53 and 88, which are of relevance from a derivatives perspective. In relation to prudential aspects of the consultation, ISDA endorsed AFME’s responses to Questions 84, 85, 88, 89, while refraining from commenting on the possible creation of a ‘brown taxonomy’. The answers provided to all other questions set out in the response are endorsing AFME’s respective positions. The EC plans to adopt the Renewed Sustainable Finance Strategy by the end of 2020.
Documents (1) for ISDA Publishes Response to European Commission Consultation on the Renewed Sustainable Finance Strategy
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Expanding Legal Agreement Coverage in the CDM
This paper examines the recent extension of the Common Domain Model (CDM)1 to represent two of the most significant, and previously undeveloped, areas of its legal agreement model: umbrella agreements and contract amendments. Umbrella agreements are widely used to document...
ISDA Omnibus Canadian Representation Letter
On September 2, ISDA published the Omnibus Canadian Representation Letter, which combines previously published representation letters drafted to assist firms in compliance with Canadian trade reporting, business conduct, regulatory margin and clearing classification rules. The Omnibus Canadian Letter is designed...
Joint Response on Cross-margining
On August 31, ISDA and FIA submitted a letter to the US Commodity Futures and Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) on the agencies’ joint request for comment on the implementation of portfolio margining and cross-margining...
Accounting for Carbon Credits: Latest Developments
This paper updates and extends the analysis set out in ISDA’s October 2023 paper on accounting for carbon credits. While preserving the original focus on the accounting treatment of voluntary carbon credits (VCCs) and compliance carbon credits (CCCs), it expands...