The Spanish National Securities Market Commission (CNMV) has included on its website a new section on sustainable finance in a bid to respond to the increasing demand for information on the subject.
The new website's space has been designed in the words of the CNMV as "a reference point on the matter", and contains key definitions, descriptions and types, as well as the main axes of the regulatory framework.
The section also includes information related to the CNMV's participation in various organisations at national, European and global levels, where new regulations in the area of sustainable finance as well as how it is overseen, are defined. It also includes an explanatory video on the meaning of sustainable finance, on its impact on the management of companies and society, and on the challenges that it poses for supervisors and regulators.
In the video, Ana Martínez-Pina, the regulator's vice-chairwoman, discusses some of the challenges currently faced by regulators due to the irruption of sustainable finance in the financial industry, which are starting to be considered an important factor in the financial sphere.
The CNMV said in a note: "These are firstly, to clarify what a sustainable investment is and what a sustainable product is to avoid fraud, what is currently known as greenwashing.
"Secondly, to have a clear and harmonised regulatory framework to enable companies to submit non-financial information on sustainability, when it is taken into account, in a homogeneous and comparative manner in all European regulations."