At the end of 2016, the European Commission established a high-level expert group on sustainable finance to help develop a comprehensive, overarching EU strategy on sustainable finance. After six months of intensive work, the expert group has summarised first results and policy options in its interim report which will be published on 10 July 2017.
The public hearing will allow stakeholders to provide feedback to the European Commission and the high-level expert group on barriers to and possible solutions for increasing sustainable finance, and ways to establish a more sustainable financial system.
The European Commission is the executive body of the EU and runs its day-to-day business. It is made up of the College of Commissioners, 27 European Commissioners, one for each member state, who are each responsible for one or several policy areas. In addition, the 'Commission' also refers to the entire administrative body that supports the Commissioners, consisting of the Directorates-General and the Services.
The European Commission is the sole EU body capable of proposing new legislation. The Commission also performs an oversight function, monitoring whether European legislation is properly implemented in the member states. In the event of non-compliance, the Commission can coerce a member state to comply by starting a legal procedure at the European Court of Justice.