What Do You Think of the EU Commission’ Renewed Sustainable Finance Strategy?
Your company has the opportunity to give its feedback to the European Commission about its Renewed Sustainable Finance Strategy. The consultation is open until July 15th and every company is invited to contribute.
midst the ongoing coronavirus (COVID-19) outbreak, sustainable finance plays an important role in strengthening the resilience of the European economy and society. If we want to build them back better, climate and environmental risks will need to be managed and integrated into our financial system. According to the European Commission, EUR 260 billion/ year of additional annual investment will be needed to achieve the current 2030 climate and energy targets.
However, how can the Commission contribute to mobilize private investment in sustainable projects and activities necessary to support the actions set out in the Green Deal? To answer this question, the executive body of the EU has opened a public consultation. The aim is to collect the views and opinions of companies, organisations, citizens and Member States to inform the Commission’s renewed strategy on sustainable finance.
Your company has time until 15 July 2020 to provide its feedback on:
How the financial sector and the economy can become more sustainable (ADDRESSED TO ALL STAKEHOLDERS)
Technical and strategic questions on the future of sustainable finance (ADDRESSED TO THE EXPERTS). After some preliminary questions, this second section focuses on:
Strengthening the Foundations for Sustainable Finance
Increasing opportunities for citizens, financial institutions and corporates to enhance sustainability
Reducing and managing climate and environmental risks
Additional Information: where you can leave additional comments.
This renewed strategy will build upon previous initiatives and reports, including:
The Commission's 2018 Action Plan on Financing Sustainable Growth
The reports of the Technical Expert Group on Sustainable Finance (TEG)
The EU Taxonomy Regulation, adopted by the Council last 15th April and the Inception Impact Assessment on the EU Taxonomy, to which CSR Europe’s responded.
What will happen next? To provide the latest intelligence on Sustainable Finance, CSR Europe will release for its member an EU Issue Insight on the Taxonomy in June and organise an EU Webinar on Sustainable Finance 2.0 after the summer break.