The Jean Monnet Centre of Excellence on European Union Sustainable Finance and Law (EUSFiL), located at the Department of Company law of the University of Genoa, aims at establishing a Centre of studies focused on the sustainable finance field, with particular referring to the recent reform of the EU financial system.
The need for a transition to a circular and sustainable economic system has never been so urgent. States, financial institutions, ONGs, companies, professionals and the civil society are together required to quickly find solutions to cope with the challenges posed by climate change and the current and future detrimental effects of human business activities on the environment.
Since the launch of the EU Sustainable Development Strategy in 2001, the EU Commission has committed to contributing to the promotion of sustainable development in key cross-sectoral projects, by intervening in all environmental, social and governance (ESG) areas. In March 2018, based on the Final Report published by the High-Level Expert Group on Sustainable Finance (HLEG), the Commission adopted the Action Plan “Financing Sustainable Growth” (‘Action Plan’), which establishes a plan setting out strategic recommendations for a financial system that supports sustainable investments. Since then, the Commission - supported by the European Supervisory Authorities - has been developing a new regulatory framework for financial institutions in order to promote sustainable finance. In December 2019, the European Commission presented the EU Green Deal, the most ambitious package of measures that should enable European citizens and businesses to benefit from sustainable green transition, which is going to implement additional reforms to the financial sector.
Given the complexity of the financial system and of its policy and regulatory framework, there is no single lever to achieve these ambitions and ‘switch’ the financial system to sustainability. Improving the contribution of the financial system to sustainable and inclusive growth requires a comprehensive review, the identification of areas where changes are needed, and the development of specific recommendations in these areas.
EUSFiL fully intercepts the HLEG’s cross-cutting recommendations as well as the EU Commission key actions that include investigating alternative approaches to current practices for long-term investment portfolios and developing ‘Sustainable Finance Compacts’ with leading countries to promote sustainable finance policy reform at the international level.
The Centre will engage in research, education, and publication that broadens inquiry, dialogue, and debate beyond traditional academic boundaries, bridging the gap between theory and practice.
EUSFiL also aims to contribute to the achievement of UN Sustainable Development Goals, with particular reference to SDG 8.10 (strengthening the capacity of domestic financial institutions to encourage and expand access to banking, insurance and financial services for all).
The Centre Activities
Serving as a focal point of scientific knowledge and skills on EU Sustainable Finance Regulation
Involving law students and encouraging young researchers in the discussion on the EU development of sustainable finance framework
Developing skills and capabilities in sustainable finance, thus creating job opportunities in private and public organisations, also in response to a growing demand for highly skilled sustainability professionals
Creating transnational activities and links with other institutions in other EU countries
Promoting dialogue, cooperation and expertise sharing practices on sustainability policy development and implementation with non-EU countries – especially with Central and Eastern European EU accession countries;
Promoting active EU citizenship and values by organising events with citizens and non-specialist audiences, school pupils, policy-makers, local authorities and other stakeholders at the local, regional and national level
TEACHING & TRAINING
WORKSHOPS & CONFERENCES
WHAT IS A JM CENTRE OF EXCELLENCE?
A Jean Monnet Centre of Excellence is a focal point of competence and knowledge on European Union subjects. It brings together high-level experts to create links between the various disciplines and resources in European studies and to form links with academic institutions in other countries.
The Centres play a key role in reaching out to students from faculties not normally dealing with European Union issues as well as to policy makers, civil servants, organised civil society and the general public at large.
For further information on Jean Monnet Centre of Excellence please refer to the Erasmus+ Programme Guide.