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New strategies in the EU’s sustainable financial system

6.7.2021 -

The European Commission has today adopted a number of measures to increase its level of ambition on sustainable finance. First, the new Sustainable Finance Strategy sets out several initiatives to tackle climate change, and other environmental challenges, while increasing investment – and the inclusiveness of small and medium-sized enterprises (SMEs) – in the EU’s transition towards a sustainable economy. The European Green Bond Standard proposal, also adopted today, will create a high-quality voluntary standard for bonds financing sustainable investment. Finally, the Commission adopted today a Delegated Act on the information to be disclosed by financial and non-financial companies about how sustainable their activities are, based on Article 8 of the EU Taxonomy. These initiatives highlight the EU’s global leadership in setting international standards for sustainable finance. The Commission intends to work closely with all international partners, including through the International Platform on Sustainable Finance, to cooperate on building a robust international sustainable finance system.

A new Sustainable Finance Strategy

Over the last number of years, the EU has become significantly more ambitious in tackling climate change. The Commission has already taken unprecedented steps to build the foundations for sustainable finance. Sustainability is the central feature of the EU’s recovery from the COVID-19 pandemic and the financial sector will be key in helping to meet the targets of the European Green Deal. More: here

Source: EC Preess

 

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