The European Commission published the new strategy on sustainable finance, which includes a series of initiatives to face climate change and some environmental challenges, increasing investment and inclusion of small and medium-sized companies in the transition to a sustainable economy.

According to what was expressed by the Vice-President of the Commission, Valdis Dombrovskis, the financial strategy is “key to generating private financing in order to achieve our climate objectives and face other environmental challenges.” The European Union requires about 350,000 million euros per year between 2021 and 2030 in additional investments in order to achieve the 2030 climate goal.

Sustainable finance

The EU wants sustainability to be the main factor in the post-Covid-19 economic recovery and the financial sector can contribute to achieving the goals of the Green Deal.

Among the strategys they are proposing to expand the current funding toolbox to facilitate access to transition funding. Second, increase the insertion of SMEs and consumers.

Other measures include building the resilience of the economic and financial system to sustainability risks, extending the financial sector’s contribution to sustainability and ensuring the integrity of the EU financial system and monitoring its transition to sustainability.

Finally, they highlight the decision to promote international initiatives and standards in the field of sustainable finance, in addition to supporting EU partner countries. The Commission will also report on the implementation of the Strategy by the end of 2023 and will actively support Member States in their sustainable finance efforts.

M. Rodríguez

source: socialinvestor.es

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