These will create certainty and eliminate the need for all actors to verify the greenness of an investment. This will lower the costs associated with green investments, which is one of the requirements for further mainstreaming sustainable finance. But taxonomy and standards alone are not enough unless we have proper data.
Over time, consumer spending should also be supported by growth in real disposable income and better labour market conditions. The latest data point to a stronger than expected recovery of real economic activity in the euro area at the beginning of 2004. According to Eurostat’s flash estimate, euro area real GDP increased by 0.6 p.c.