ESMA appoints chair for its new Coordination Network on Sustainability
The Board of Supervisors of the European Securities and Markets Authority (ESMA) has today established a Coordination Network on Sustainability (CNS), and appointed Ana María Martínez-Pina Garcia, Vice-Chair of the Comisión Nacional del Mercado de Valores (CNMV, Spain) to chair the CNS for two years with immediate effect.
The CNS was created to foster the coordination of national competent authorities’ (NCAs) work on sustainability. It will be responsible for the development of policy in this area with a strategic view on issues related to integrating sustainability considerations into financial regulation. The European Union (EU) envisages to shift towards a more sustainable financial system in the medium and long run. Therefore, ESMA and European securities regulators should make sustainable finance an integral part of their supervisory and enforcement activities. In this context, ESMA’s work on Sustainable Finance supports the EC’s Sustainability Action Plan in the areas of investment services and investment funds.
In addition to her role at the CNMV, Ms. Martinez-Pina Garcia leads one of two main workstreams on Sustainable Finance at the International Organization of Securities Commissions (IOSCO) as well as at the CNMV.