This naturally begs the question of what we need in order to maintain our global leadership in sustainable finance. The EU Green Deal and the Next Generation EU will be important drivers that will mobilize capital for financing the EU’s climate goals. These initiatives are not only about public money; through various programmes, they will also attract private capital.
There are also barriers to increasing sustainable finance in the EU, from the lack of green investment opportunities to the fragmented capital markets within the EU. Putting these obstacles to one side, I would like to highlight some aspects more closely related to sustainable finance. Firstly, we need a taxonomy and common standards for sustainable investments.