{"id":6619,"date":"2022-01-18T07:00:44","date_gmt":"2022-01-18T06:00:44","guid":{"rendered":"http:\/\/webecpol.esade.edu\/?post_type=publicaciones&#038;p=6619"},"modified":"2026-09-16T18:09:29","modified_gmt":"2026-09-16T16:09:29","slug":"el-efecto-del-cambio-climatico-y-la-transicion-energetica-sobre-el-sector-financiero-y-su-relacion-al-desafio","status":"publish","type":"publicaciones","link":"http:\/\/webecpol.esade.edu\/ca\/publicacions\/el-efecto-del-cambio-climatico-y-la-transicion-energetica-sobre-el-sector-financiero-y-su-relacion-al-desafio\/","title":{"rendered":"L\u2019efecte del canvi clim\u00e0tic i la transici\u00f3 energ\u00e8tica sobre el sector financer i la seva reacci\u00f3 al desafiament"},"content":{"rendered":"<p>\u2192 <strong>L\u2019atenci\u00f3 a la sostenibilitat clim\u00e0tica i mediambiental s\u2019ha despla\u00e7at en els \u00faltims anys cap al sector financer,<\/strong> que ser\u00e0 clau per promoure la transici\u00f3 ecol\u00f2gica de la resta de sectors econ\u00f2mics mitjan\u00e7ant el finan\u00e7ament i la innovaci\u00f3 financera. A m\u00e9s d\u2019una conscienciaci\u00f3 m\u00e9s gran, aquesta atenci\u00f3 prov\u00e9 de l\u2019impuls de les autoritats: els reguladors i supervisors estan empenyent el sector financer a orientar-se cap a la sostenibilitat.<\/p>\n<p>\u2192 <strong>La gran fita de concertaci\u00f3 internacional contra el canvi clim\u00e0tic, com a reacci\u00f3 al desafiament, cristal\u00b7litza en l\u2019Acord de Par\u00eds del 2015.<\/strong> Despr\u00e9s, <strong>ha sorgit tota una constel\u00b7laci\u00f3 d\u2019actors i iniciatives a escala global en l\u2019\u00e0mbit financer.<\/strong> En paral\u00b7lel, <strong>la UE ha anat teixint el seu propi ecosistema d\u2019institucions i iniciatives,<\/strong> en qu\u00e8 intervenen les principals institucions, les ag\u00e8ncies reguladores <strong>(EBA, ESMA i EIOPA)<\/strong> i els supervisors <strong>(BCE, ESRB)<\/strong>, aix\u00ed com m\u00faltiples actors privats.<\/p>\n<p>\u2192<strong> L\u2019aproximaci\u00f3 de la UE al desafiament de la sostenibilitat es basa en tres eixos:<\/strong> la Uni\u00f3 de l\u2019Energia, el Pla d\u2019Acci\u00f3 de Finances Sostenibles <strong>(PAFS)<\/strong> i el Pacte Verd Europeu. Aquests eixos perfilen el full de ruta per a la transici\u00f3 del sector energ\u00e8tic, del sector financer i de la resta de sectors econ\u00f2mics, respectivament.<\/p>\n<p>\u2192 <strong>El PAFS \u00e9s l\u2019estrat\u00e8gia de la UE per a la transici\u00f3 del sector financer i la promoci\u00f3 de les finances sostenibles.<\/strong> Amb l\u2019objectiu d\u2019enlla\u00e7ar finances i sostenibilitat, perfila una reforma de la regulaci\u00f3 financera i t\u00e9 tres objectius: 1) augmentar i reorientar el capital cap a inversions sostenibles; 2) gestionar els riscos financers derivats del canvi clim\u00e0tic; i 3) fomentar la transpar\u00e8ncia i la visi\u00f3 de llarg termini de l\u2019activitat econ\u00f2mica i financera.<\/p>\n<p>\u2192 <strong>El PAFS \u00e9s ambici\u00f3s i transversal perqu\u00e8 afecta m\u00faltiples agents i instruments variats.<\/strong> Busca crear un llenguatge \u00fanic o taxonomia que determini quines activitats s\u00f3n sostenibles o no (acci\u00f3 1), crear bons verds i etiquetes ecol\u00f2giques (acci\u00f3 2), promoure les inversions sostenibles (acci\u00f3 3), incorporar els criteris de sostenibilitat en l\u2019assessorament financer (acci\u00f3 4), desenvolupar \u00edndexs de refer\u00e8ncia sostenibles (acci\u00f3 5), millorar la integraci\u00f3 de la sostenibilitat en les qualificacions credit\u00edcies i els estudis de mercat (acci\u00f3 6), aclarir els deures de divulgaci\u00f3 de gestors d\u2019actius, comercialitzadors i productes financers (acci\u00f3 7), incorporar la sostenibilitat en els requisits prudencials (acci\u00f3 8), refor\u00e7ar la divulgaci\u00f3 de la informaci\u00f3 sobre sostenibilitat (acci\u00f3 9) i fomentar un govern corporatiu sostenible i reduir el curtterminisme als mercats (acci\u00f3 10).<\/p>\n<p>\u2192 <strong>L\u2019Estrat\u00e8gia Renovada de Finances Sostenibles (ERFS),<\/strong> publicada per la CE el juliol del 2021, <strong>revisa i actualitza el PAFS.<\/strong> Simplement reagrupa les seves 10 accions, que veuran refor\u00e7at el seu desenvolupament amb un calendari m\u00e9s definit per a la seva adopci\u00f3.<\/p>\n<p>\u2192 <strong>Entre les principals implicacions de <em>policy<\/em> destaca la necessitat que les empreses dissenyin i executin estrat\u00e8gies de mitigaci\u00f3 i adaptaci\u00f3 ambicioses.<\/strong> Els passos que faci cada agent seran crucials per a la seva superviv\u00e8ncia i rendibilitat futures: mitigar el canvi clim\u00e0tic i adaptar-s\u2019hi permetr\u00e0 prevenir i mitigar riscos, i pot generar nombroses oportunitats. Per aconseguir-ho, disposen d\u2019un arsenal ampli d\u2019eines.<\/p>\n<p>\u2192 <strong>Les estrat\u00e8gies de sostenibilitat no s\u2019haurien d\u2019adoptar per raons reputacionals, sin\u00f3 per raons de risc financer i de posicionament estrat\u00e8gic.<\/strong> Aix\u00f2 \u00e9s el que busquen des de fa un temps reguladors i supervisors. <strong>El canvi comen\u00e7a a ser visible: les institucions financeres no nom\u00e9s comencen a reaccionar a la pressi\u00f3 externa exercida per reguladors i supervisors perqu\u00e8 adoptin un comportament sostenible, sin\u00f3 que estan apreciant per si mateixes el valor de mercat i estrat\u00e8gic d\u2019avaluar i integrar els riscos sostenibles o ESG (acr\u00f2nim en angl\u00e8s d\u2019Environmental, Social and Governance)<\/strong>, cosa que els permet situar-se en una millor posici\u00f3 per mitigar riscos i aprofitar les oportunitats del canvi clim\u00e0tic i la transici\u00f3 ecol\u00f2gica.<\/p>\n<p><strong>\u2192 De cara al futur, els reptes s\u00f3n significatius:<\/strong> el desenvolupament del full de ruta regulatori podria transformar el funcionament, el comportament i la fisonomia dels actors i els mercats financers, sense l\u2019orientaci\u00f3 dels quals cap a la sostenibilitat ser\u00e0 impossible complir els objectius en mat\u00e8ria de clima i medi ambient. Per\u00f2 requerir\u00e0 molta atenci\u00f3 i esfor\u00e7 per part seva, ja que el tsunami normatiu \u00e9s dif\u00edcil de pair i complex i cost\u00f3s d\u2019aplicar.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>La atenci\u00f3n por la sostenibilidad clim\u00e1tica y medioambiental ha virado en los \u00faltimos a\u00f1os al sector financiero, que ser\u00e1 clave en promover la transici\u00f3n ecol\u00f3gica.<\/p>\n","protected":false},"featured_media":6627,"template":"","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>L\u2019efecte del canvi clim\u00e0tic i la transici\u00f3 energ\u00e8tica sobre el sector financer i la seva reacci\u00f3 al desafiament - Center for Economic Policy - EsadeEcPol<\/title>\n<meta name=\"description\" content=\"La atenci\u00f3n por la sostenibilidad clim\u00e1tica y medioambiental ha virado en los \u00faltimos a\u00f1os al sector financiero, que ser\u00e1 clave en promover la transici\u00f3n ecol\u00f3gica.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/webecpol.esade.edu\/ca\/publications\/el-efecto-del-cambio-climatico-y-la-transicion-energetica-sobre-el-sector-financiero-y-su-relacion-al-desafio\/\" \/>\n<meta property=\"og:locale\" content=\"ca_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"L\u2019efecte del canvi clim\u00e0tic i la transici\u00f3 energ\u00e8tica sobre el sector financer i la seva reacci\u00f3 al desafiament - 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