Sustainable finance aims at incorporating environmental, social and governance elements into business management and investment decision-making.

Securities markets have an important role to play in the transition to more sustainable and inclusive growth. As set out in the European Commission´s Renewed Strategy for financing the transition to a sustainable economy which reinforces its  2018 Action Plan on financing sustainable growth, there is a need to encourage the redirection of capital flows to facilitate more sustainable and inclusive growth, to manage the financial risks of climate change and to promote transparency and long-term vision in financial and economic activities.

The CNMV is committed, in the exercise of its powers and as an organisation, to the development of a stable financial system that contributes to the goal of sustainability and will continue to promote initiatives that facilitate the sustainable growth of our companies and our economy. Therefore, one of the four strategic lines defined by the CNMV for the period 2021-2022 is precisely to facilitate the role of the securities market in this transition, ensuring the reliability of investor information, and to this end the 2022 Activity Plan pursues various objectives.


Sustainable finance is an area of continuous development.


Since 2015, the year in which the Paris Agreement on climate change was adopted, a number of regulatory initiatives have been developed to integrate environmental, social and governance considerations into investment decision-making, with the aim of achieving a transition to a low-carbon, more resource-efficient and sustainable economy.

These initiatives are reflected in various international and, above all, European documents.

In addition, in order to facilitate the application of the new regulations to the entities affected, the CNMV has published some documents with its criteria in this respect.

Events, presentations and resources

The CNMV participates in and organises various conferences and seminars aimed at providing information to the market in order to facilitate the investment decision-making process and promote transparency.


The CNMV can be contacted on matters related to sustainable finance at the following email address: