Brexit: an opportunity to create a more sustainable financial system & Capital Markets Union?
Under the leadership of the UK’s Commissioner Jonathan Hill, the European Commission launched the ambitious Capital Markets Union (CMU) initiative. Under the CMU, the EU’s investment and finance system would be reformed to create a “true single market” for capital in the EU.
But the result of the UK’s Brexit referendum has cast doubt on this initiative, which many perceived the UK to be the driving force behind. Huge questions have also been raised about the future of the City of London, its relationship with the EU single market, and European finance and investment policymaking.
The CMU is a key opportunity for policymakers to create a more responsible financial system in Europe that serves the needs of savers, citizens and the environment. If responsible investment is not placed firmly on the agenda, the CMU could increase financial instability and undermine the EU’s global leadership on sustainable development.
Now is an opportune moment to examine the future of the CMU and its potential for advancing a sustainable investment system within the European Union (EU), and beyond, in the context of the result of the UK’s June referendum. Join us on the 11th November to learn more.
Key questions this event will explore are:
Will the UK’s diminishing influence in Brussels help or hinder efforts to create a sustainable financial system?
Does the CMU need the City of London, and does the City of London need the CMU?
How will the UK’s efforts to become a hub for green finance be impacted by both the evolution of the CMU and the Referendum result?
What options are there for a post-Brexit relationship between the UK’s finance sector and the EU, and how are stakeholders preparing for this?
Can competition between European financial centres and the City of London be harnessed to catalyse a more transparent, responsible finance system aligned with the need to tackle climate change?
14.00: Welcome Remarks, Camilla de Ste Croix, Senior Policy Officer, ShareAction
14.10: First Keynote, Cecilia Thorn, Head of International Relations, FRC
14.30-15.30: Panel - What could the post-Brexit relations between the EU and UK's financial services sector entail and how will this affect regulation of this sector?
Chair: Daniel Brooksbank, Editor, Responsible Investor
Anneliese Dodds MEP
Molly Scott-Cato MEP
Dr Waltraud Schelkle, Associate Professor of Political Economy, European Institute, LSE
Mick McAteer, Director, Financial Inclusion Centre; former Chair, European Commission Financial Services User Group(FSUG); former FSA/FCA board member
15.30-15.45: Second Keynote 'What has the EU ever done for Responsible Investment?'
Paul Watchman, Director of Sustainable Finance of the CCP Research Foundation
15.45-16.00: Coffee Break
16.00-17.00: Panel - How can a sustainable, responsible finance system be advanced in the UK and EU against a Brexit backdrop?
Chair: Sue Rust, Senior Reporter, Investment and Pensions Europe
Ingrid Holmes, Director, E3G
Paul Watchman, Director of Sustainable Finance of the CCP Research Foundation (tbc)
Ron Batten, Chair of the Responsible Investment Working Group, EFAMA (the European Fund and Asset Management Association)
Ian Williams, Independent Consultant and author of event discussion paper "Brexit: an opportunity to create a more sustainable financial system and Capital Markets Union?"
17.00-17.30: Breakout session into small groups, followed by presenting questions and conclusions back to the plenary
17.30-17.45: Closing Remarks
Jon Hoare, Director of Policy, ShareAction
17.45-19.00: Networking drinks and light refreshments
*This agenda is provisional and may be subject to change