The mandate of the GLOBE EU Bee WG on Financing 2020, launched on 16 November 2010 (see participants list) is to be a place of dialogue between Members of the European and National Parliaments and other EU Institutions, the Financial Community and Civil Society groups focused on Socially Responsible Investment.

GLOBE EU proposes a 10-point action plan on Economic and Social Governance (ESG) to leading private financial institutions with an active presence in Europe, to be implemented over 1 year, in order to to contribute to the development of a ‘critical mass’ financing the implementation of the Europe 2020 Strategy objectives.

This action plan addresses the role of retail banking as well as asset managers and pension funds. It makes use of a large set of EU and Member States Parliament leverages, including regulatory power to create the new risk-reward paradigm to mobilize private capital:

1) MEP’s initiative Reports;

2) Conference 2010 in the European Parliament on the new risk-reward paradigm;

3) European Parliament AGORA 2011 between the European Parliament and Civil Society;

4) Co-decision Council-Parliament related to Banks and Rating Agencies Regulations and EU Budget;

5) European Parliament Written Declaration in 2011;

6) Oral questions/resolutions in Member States Parliaments;

7) Roundtables in Member States;

8) Transatlantic Dialogue with US Congress;

9) G-20 Dialogue;

10) UN 2012 and partnership with UNEP-FI

In this perspective,

The Working Group will address:

* How to explore a State-Market (Banks)-Civil Society Alliance to build the new risk-reward paradigm, restore trust in European Banks and secure Europe “Green New Deal Leadership”.

* The significant role played and to be played in financing the shift to a low carbon and resource-efficient economy through lending and investment practices by all European banks (including commercial banks, cooperative banks, saving banks, investment banks, retail banks, asset managers, and pension funds have).

* How to collect money via green fund schemes, fiscal incentives or a European sustainable saving accounts.

* How to allocate money to projects supporting Europe 2020 objectives, from companies' new generation plans to retrofitting projects of private owners buildings.

* The role of EU and National Parliaments regarding key banks core business issues as credit risk management, the Basel II prudential ratio, accounting, auditing and reporting rules and regulations, transparent lending, bank board governance, fiscal incentives, collecting financial resources, state guarantee, sustainable investment methodologies and reporting, micro-finance, integrated stakeholder strategy and restoring trust, business with governments and structural bonds, ETS allocation, and other related topics.