There is currently work ongoing to develop an EU taxonomy to define what is ‘green’. It has been suggested that an EU standard for green bonds could build on this taxonomy. Yet another measure I would bring forward to promote the Capital Markets Union concerns activating retail investors, that is, SMEs and households.
Currently, their participation in capital markets is lower than in the United States. It is restrained by a wide range of barriers. Offering different investment products to retail investors could be made easier. Retail investment regulation could be harmonised and simplified. Overlaps and inconsistencies across Member States could be removed.