Sustainable Finance and Consumer Protection

Enabling Greek and Czech retail investors to express their sustainability demands – and financial advisors to consider these in their product recommendations.

Finance Sustainable Economy

Beitragsbild

Project info

Countries:

Czech Republic, Greece

Project duration:

10/20 - 03/23

Target groups:

Consumers, Private sector

Funding:

478,942.00 €

Contact info

Contact:

Nicola Koch

Partner:
  • Czech Consumer Association
  • WWF Greece

Background

Research from the 2° Investing Initiative (2DII) suggests that a majority of retail clients across Europe have sustainability investment objectives. Yet, “sustainable finance” doesn’t play a major role in the Greek and Czech climate action policies. This needs to change in order to implement the reform of the MIFID/IDD regulation which obliges financial advisors to ask about and take into account the sustainability preferences of their retail clients.

A plant grows in a glass of coins. Photo: (c) Micheile Henderson

Project

To support efforts to implement the reform, the project focusses on both ends of the client-advisor relationship. First, it increases the ability of individual clients to understand, articulate and express their sustainability-related investment objectives. Second, it builds the technical capacity of financial advisors and distributors to anticipate, interpret and integrate their clients’ demands into suitable product recommendations.

To achieve these goals, the project employs a variety of measures. Relying on knowledge and research results acquired in previous projects, the project conducts local surveys among 2,000 retail clients on their sustainability preferences. 200 mystery shopping visits provide the potential to audit marketing practices and to review product offers. Furthermore, 2DII provides the online retail platform MyFairMoney for the Czech and Greek market to support retail clients and financial advisors. To ensure continuity, the project organises a total of 24 events where results are disseminated with local stakeholders.

Last update: March 2024

More about this project

Publications

publications

16 August 2022

What do your Clients actually want?

publications

16 August 2022

Please Don’t Let Them Be Misunderstood!