The European Commission tabled today legislation aimed at fostering financial sector involvement in, and channelling capital towards, sustainable economic activities.
“Meeting our climate commitments will require large scale investment”, said EC vice president Valdis Dombrovskis, speaking to reporters in Brussels.
Dombrovskis acknowledged the need to mobilise private capital, as public funds might be insufficient.
Among the four proposals tabled as part of the announced action plan on sustainable finance, the executive put forward an EU-wide guiding principle, or ‘taxonomy’, to define sector-by-sector what constitutes green investments and, ultimately, label green assets.
Please enter your details
Not a subscriber?
Take a free trial now to discover the critical insights and updates our coverage offers subscribers.