The problems associated with sustainability pose a significant threat to society, economic prosperity and financial stability.
This has led to a number of important global initiatives over the last few decades, in particular:
- The establishment, in 1988, of the Intergovernmental Panel on Climate Change (IPCC)  by the United Nations Environmental Program, with the purpose of providing government bodies, or with responsibilities in the definition of policies, with adequate scientific information;
- The Kyoto Protocol , adopted in December 1997, and in force in February 2005, consolidated an international agreement, also linked to the United Nations sphere, which binds its signatories to targets for the reduction of pollutant emissions;
- The Paris Agreement , signed in December 2015, marked an important milestone in the concertation to combat climate change and the acceleration and intensification of actions and investments needed for a sustainable and low-carbon future.
- The European Commission's Action Plan for the growth of sustainable financing  of March 2018, listing three main objectives, strongly linked to the financial system:
· Reorient capital flows towards sustainable investment in order to achieve sustainable and inclusive growth;
· Manage the financial risks arising from climate change, environmental degradation and social problems;
· Promote transparency and long-term vision in financial and economic activity.
At a national level, as a result of the commitments made with the signing of the Paris Agreement, the National Roadmap for Carbon Neutrality  was prepared, which aims to densify the lines of action to reduce the emission of greenhouse gases in Portugal, so that the balance between emissions and removal from the atmosphere can be zero in 2050.
Aware of its importance in a process in which the financial sector plays a crucial role, ASF is a member of the Reflection Group for Sustainable Financing in Portugal, which sought, firstly, to identify the main obstacles, possible solutions and opportunities that this path towards sustainability generates for financial institutions. This Reflection Group produced, on July 8, 2019, the report with the Guidelines for Accelerating Sustainable Financing in Portugal . On the same date, the ASF also became a signatory to the Charter of Commitment for Sustainable Financing in Portugal .
ASF is also actively involved in the specific progress made in this area in the insurance and pension funds sectors, as part of the Action Plan for Sustainable Financing agreed by EIOPA , with a focus on:
- Manage and appropriately mitigate environmental, social and governance (ESG) risks;
- Reflect the preferences of borrowers and beneficiaries for sustainable investment;
- Adopt a sustainable approach in its investments and other activities, reflecting the importance of the sector as having a substantial representativeness of investments in the European economy.
Roadmap for Carbon Neutrality 2050 (RNC 2050)
Guidelines for accelerating sustainable financing in Portugal
Letter of Commitment for sustainable financing in Portugal