In March 2022, the G20/OECD Task Force on Financial Consumer Protection and FinCoNet jointly hosted an international seminar titled "Sustainable Finance through a Financial Consumer Protection Lens." The event aimed to explore the intersection of sustainable finance and consumer protection, focusing on emerging trends, opportunities, and associated risks for financial consumers. The seminar brought together experts and stakeholders to discuss policy, regulatory, and supervisory approaches to ensure that the growth of sustainable finance markets aligns with robust consumer protection frameworks.
The seminar featured presentations and panel discussions covering various aspects of sustainable finance. Key topics included the role of financial institutions in promoting sustainable investment products, the importance of clear and accurate disclosures to prevent greenwashing, and the need for financial education to enhance consumer understanding of sustainable finance options. Speakers also addressed the challenges regulators face in balancing the promotion of sustainable finance with the imperative to protect consumers from potential mis-selling and misinformation.
The event commenced with opening remarks by Mr. Richard Monks, Chair of the G20/OECD Task Force on Financial Consumer Protection. The presentations segment was moderated by Mr. Miles Larbey, Head of Financial Consumer Protection at the OECD, and included insights from Mr. Robert Patalano, Head of the Financial Markets Division at the OECD, and Mr. Bryan Coughlan, Sustainable Finance Officer at The European Consumer Organisation (BEUC).
The seminar also included a panel discussion moderated by Ms. Flore-Anne Messy, Head of the Consumer Finance, Insurance, and Pensions Division at the OECD. Panelists comprised Mr. Mark Manning, Technical Specialist in Environmental, Social, and Governance Policy at the Financial Conduct Authority in the United Kingdom; Mr. Yuji Yamashita, Deputy Commissioner for International Affairs at the Financial Services Agency in Japan; and Ms. Bénédicte Van Ormelingen, Legal and Policy Officer at the Directorate-General for Justice and Consumers, along with Ms. Silvia De Iacovo, Policy Assistant at the Directorate-General for Financial Stability, Financial Services, and Capital Markets, both from the European Commission.
The seminar concluded with closing remarks from Ms. Maria Lúcia Leitão, Chair of FinCoNet.
