The International Capital Market Association (ICMA) welcomes the opportunity to provide feedback to the European Commission on the consultation on the EU GBS.
ICMA is a membership association, headquartered in Switzerland, committed to serving the needs of its wide range of members. These include private and public sector issuers, financial intermediaries, asset managers and other investors, capital market infrastructure providers, central banks, law firms and others worldwide. ICMA currently has around 600 members located in over 60 countries.
The feedback if ICMA is given on behalf especially of the Green & Social Bond Principles Executive Committee (GBP ExCom), as well as other ICMA constituencies through our Sustainable Finance Committee.
In it’s feedback ICMA warns that aspects of the EU’s planned green bond standard could drive up costs and hinder the market’s growth.