UCD Professor appointed to EU expert group tasked with developing ‘green’ financial system

Andreas Hoepner EU Technical Group

Posted 14 June, 2018

UCD Professor Andreas Hoepner has been appointed to a new EU Technical Expert group tasked with creating a more sustainable ‘green’ financial system for the Union.

The financial data scientist will take up the role in July 2018, and will work alongside 34 other professionals drawn from academia, civil society and the business sector to develop a new EU-wide classification system to assess an economic activity’s impact on the environment.

The Technical Expert Group will also support the Commission in the creation of an EU Green Bond Standard, and in developing a frame-work and standards to help promote the growth of green finance.

Speaking about his appointment, Prof. Hoepner, UCD Michael Smurfit Graduate Business School, said he was delighted to be involved with the group’s “ambitious plans to place environmental, social and governance considerations at the heart of the financial system”.

“With my appointment focused on the task of developing low-carbon benchmarks, I look forward to sharing my experiences wherever possible with my students in UCD Smurfit’s MSc in Renewable Energy and Environmental Finance.”

The group’s work will lay a solid foundation for ensuring Europe’s competitiveness into the future, he added.

Professor Hoepner’s appointment was welcomed by Minister of State for Finanical Services and Insurance Michael D’Arcy, who said that “For many years now, the European Union has been at the forefront of the transition to a low-carbon economy.”

“Convening a pan-European Expert Group to advise on how best to move forward underscores the importance the EU is placing on this topic.

“I want to extend my congratulations to UCD’s Professor Hoepner for being selected as a member of this Expert Group and for his expertise being recognised.”

Commenting on the announcement, Valdis Dombrovskis, European Commission Vice-President responsible for Financial Stability, Financial Services and Capital Markets Union said: "[This] Technical Expert Group is another step in our ambitious timetable to lay the foundations for a more sustainable financial system.

“Already as of July, this diverse and highly qualified group of experts will get to work, helping us determine which economic activities are truly green, define an EU standard for green bonds, and more.”

Before joining UCD in June 2017, Professor Hoepner was a lead academic at the ICMA Centre of Henley Business School.

He also served for more than six years as an advisor to the UN-supported Principles for Responsible Investments, an international network of investors seeking to develop a more sustainable global financial system.

The group has more than 1,750 members from over 50 countries representing over €61 trillion in assets.

By: David Kearns, Digital Journalist / Media Officer