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

Poland tops employment rankings – OECD report

The EU’s employment rate reached a record high of 70.9% in the fourth quarter of…

2 days ago

Greece plans to repay Eurozone’s bailout loans whole decade in advance

Greece has announced plans to repay its first bailout loans a decade ahead of schedule,…

2 days ago

CEE economies tougher than you may think – ING

Despite their export-driven economies and strong manufacturing bases, Central and Eastern Europe (CEE) countries may…

2 days ago

Slovenia mulls French, US bids for nuclear project

Slovenia is at the centre of a strategic struggle between France and the US, as…

2 days ago

Single market is not single, and it’s costing us all

The EU’s internal market is still falling short of its founding promise. Despite decades of…

6 days ago

Foot-and-mouth sees culls, CEE border closures

An outbreak of foot-and-mouth disease (FMD) has prompted mass animal culls and tightened border controls…

1 week ago