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UCD professors appointed to EU Commission Platform on Sustainable Finance

Posted 12 November, 2020

Two academics from University College Dublin have been appointed to Platform on Sustainable Finance at the European Commission.

Professor Andreas Hoepner, of UCD Michael Smurfit Graduate Business School, and Dr Theodor Cojoianu, visiting fellow at Smurfit and lecturer in finance from Queen’s Management School, are the only finance scientists from Ireland selected to join the group, which will aid the Commission in creating a more sustainable ‘green’ financial system for the European Union.

The UCD professors were appointed based on their world-class expertise related to environmental management and sustainable finance.

The Platform on Sustainable Finance is tasked with developing the key components needed to achieve a 'European Green Deal', and will advise on the EU's Green Taxonomy (EU's classification of sustainable economic activities) and on the usability of sustainable financial datasets.

It will also monitor and report on capital flows towards sustainable investments in Europe. The platform aims to reach out to a wide range of stakeholders through both public consultations and targeted outreach.

“Having been a member of the European Commission’s Technical Expert Group on Sustainable Finance, I am delighted to be re-appointed to the Platform on Sustainable Finance and even more delighted that Theodor is joining me this time,” said Professor Hoepner.

“We both shall ensure that we contribute our knowledge developed in our Science Foundation Ireland funded project ‘AI for Anti-Greenwashing’ to the platform. This will also allow us to teach our MSc students sustainable finance based on cutting edge financial data science and literally the latest policy development.”

The financial scientists will work alongside 50 selected members and 10 special observers, drawn from academia, civil society and the business sector based on their environmental, sustainable finance or social/human rights expertise.

Speaking about the Platform, Valdis Dombrovskis, EU Commission Executive Vice-President for an Economy that Works for the People said: “This Sustainable Finance Platform will provide valuable ideas and input in our work to drive green finance forward and to develop the taxonomy, which will play a crucial role in channeling investment into green economic activities.

“It has been heartening to see such tremendous interest from such a wide range of experts and stakeholders to join the Platform. We have struck a very careful balance in selecting people from a wide range of sectors including civil society, industry and academia, and with different skills. I look forward to working closely with the Platform over the next months.”

By: David Kearns, Digital Journalist / Media Officer (with materials from Beth Gormley, UCD College of Business)