According to Steven Vermander, the seal of approval is intended to give potential investors the assurance that the financial product is managed with sustainability in mind and has not encountered unsustainable practices. Independent monitoring by the Central Labeling Authority (CLA) protects the integrity of the quality standard and seal of approval and will guide further development.
“After all, there is a review round that takes place every two years,” says Steven Vermander, emphasizing one aspect for improvement. “This ensures that the criteria and requirements for this label are constantly tightened. For example, the Towards Sustainability label is becoming increasingly strict when it comes to phasing out fossil fuels. However, KBC already meets the most stringent requirements in this regard.”
This shows that sustainability does not stand still. Each method is subject to revisions and reinforcements. “That’s the case for us, too,” explains Steven Vermander. “In this way, we try to always be one step ahead.”
