Categories: Uncategorized

Banks Will Have to Chip in to Reach EU Climate Goals

Reading Time: < 1 minute

The leaders of the EU are planning to funnel hundreds of billons of euros into sustainable investments each year through banks and markets to create the first “climate-neutral continent” by the middle of the century. The related plans announced in the EU’s sustainable finance framework detail the next steps and measures for finance, enabling companies and households to achieve climate goals.

The proposal builds on a 2018 initiative that set the stage for the bloc’s “taxonomy,” which aims for the reliable classification of investments based on how green, eco and sustainable they are. Based on the proposal, the governments of the EU have until June 2023 to figure out how their financial markets contribute to the reduction of the bloc’s net carbon emissions by 2050. The range of possible options for fundraising will include asset managers, pension funds, banks and insurers.

Source: Reuters

CET Editor

Recent Posts

CEE mulls ramifications of Trump’s victory on trade, defence, environment

As Donald Trump officially declared his victory in the US election, he received congratulations from…

3 days ago

‘Budapest Declaration’ signed as Orban hosts EU summit

European leaders committed to developing a defence industry base and enhancing EU competitiveness at an…

3 days ago

EU, South Korea expand security, defence links

The EU and the Republic of Korea formalised a comprehensive Security and Defence Partnership in…

4 days ago

PKN Orlen CEE’s top firm on Coface 500 list

Poland is the dominant country in the Central and Eastern Europe (CEE) business landscape, with…

4 days ago

To the victor go the spoils – the big winners and losers of Trump’s second presidency – CET op-ed

Hungarian Prime Minister Viktor Orban, no stranger to political brinkmanship, went all in on Donald…

1 week ago

Moldova pivots to EU in presidential vote

Moldovan President Maia Sandu defeated her pro-Russian rival Alexandr Stoianoglo by around 55% to 45% in the presidential second-round…

1 week ago