About: sustainable finance
LEAK: EU considers expanding role of gas in green finance
The European Commission is reconsidering the position of gas in its sustainable finance taxonomy by recognising the fossil fuel’s role in keeping the lights on during peak electricity demand, according to a leaked document seen by EURACTIV.
EU prepares to turn the screw on asset managers over greenwashing
For money managers and advisers keen to market their sustainable investing credentials to European clients, going green is about to get a lot tougher.
Parliament spells out red lines in EU battle over green finance
Senior lawmakers have expressed concerns about the EU’s proposed sustainable finance taxonomy rule book, raising the possibility that an unruly cross-party majority might emerge to reject the proposal in the European Parliament.
EU advisors and Poland’s PGE increase pressure over gas in green finance rules
The European Commission came under new pressure on Monday (22 February) from Poland's biggest power producer, PGE, and its own advisors, over whether to include gas power in EU rules on sustainable finance.
EU green finance advisors asked to clarify ‘transition’ to net-zero climate goal
The European Commission has asked advisors to rework the EU’s green finance taxonomy rules after member states rejected draft implementing guidelines, unhappy about the exclusion of gas as a “transition” activity towards net-zero emissions.
Banks ask for better data to implement EU green finance taxonomy
The availability of good data is seen as one of the main challenges to implement the EU taxonomy on sustainable finance, according to a test conducted by banks published on Monday (25 January).
Commission prepares ground for ‘ambitious’ sustainable finance strategy
The European Commission will present in early 2021 an “ambitious” sustainable finance strategy to mobilise the private investment needed to meet the EU’s climate targets.
EU countries urged to support ‘green recovery’ across the globe
European countries should use their influence as shareholders to encourage green investments in countries across the world, said Climate Envoy for the Netherlands, Marcel Beukeboom, as the High Ambition Coalition launched its Statement on a Resilient Recovery.
Commission readies implementation of sustainable finance
The European Commission will detail in the coming weeks what could be considered a ‘green’ activity, a technical definition that would help to unlock the massive investment needed to achieve the EU's climate objectives.
Europe urged to align budget with green finance rules
The EU’s sustainable finance taxonomy should be systematically applied to track green investments in the bloc’s next long-term budget and coronavirus recovery fund, which together amount to €1.8 trillion over the next seven years, according to a new report launched on Wednesday (28 October).
McGuinness wants ‘full investigation’ into Wirecard scandal
The Commissioner-designate for financial services, Ireland's Mairead McGuinness, promised on Friday (2 October) a “full investigation” into the Wirecard fraud that has thoroughly shaken up Germany, to see why supervision failed.
Sustainable finance: ‘Germany needs to show leadership’
The EU economic recovery plan presented by European Commission President Ursula von der Leyen on 27 May will also be based on the so-called taxonomy which gives priority to sectors in the field of low-carbon transition. EURACTIV Germany reports.
EU reaches milestone by agreeing on green criteria for finance
MEPs and the Finnish presidency of the EU Council agreed Thursday (5 December) on a taxonomy to determine what economic activities can be considered ‘green’, paving the way for billions of euros to be channelled into investments to fight climate change.
Paris, Berlin divided over nuclear’s recognition as green energy
Disagreement on the inclusion of nuclear power in the EU’s upcoming green finance taxonomy has revived long-standing divisions between France and Germany over the energy transition. EURACTIV France reports.
Banks taking only ‘superficial’ climate action, study reveals
Despite an explosion in green finance, banks have made only superficial changes to their lending practices, with fossil fuel funding going virtually unabated over the past years, according to a new report by Boston Common Asset Management released today (11 November).
Gas industry storms into EU green finance taxonomy debate
Industry executives argue fossil gas should be considered green when it displaces coal in power generation, sparking fresh controversy around an upcoming EU sustainable finance taxonomy aimed at rewarding investments in clean technologies.
Council maintains nuclear as eligible for ‘green’ finance
EU ministers have decided not to exclude nuclear projects from a sustainable finance classification scheme, despite opposition from Germany, Austria, Luxembourg and the European Parliament.
Sustainable financing may have its limits
With an increasing number of investors being concerned about climate risks, they have started to push for sustainable business practices. Although they are showing more interest in protecting the environment, critics warn that such a "greening" of capitalism will not be enough. EURACTIV Germany reports.
Lagarde pledges to continue with Draghi’s loose monetary stance
Christine Lagarde promised on Wednesday (4 September) to respond with “agility” to the looming financial and economic turbulences once she becomes the president of the European Central Bank in November, while confirming that the current loose monetary stance will continue for a “long period of time.”
London’s bankers – pioneers of green finance?
Last week, the UK became the first major industrialised country to pass a law to reduce its carbon emissions to zero by 2050. Now London is publishing a strategy for redirecting global financial investments into climate-friendly projects. The idea of bankers investing in the environment should sound less paradoxical in the future. EURACTIV Germany reports.
EU expert group drives sustainable finance’s mainstreaming two steps ahead
European sustainable finance got an additional boost on Tuesday (18 June), following the release of three reports by the Technical Expert Group on sustainable finance (TEG) focusing on taxonomy, green bonds standards and climate benchmarks.
Europe wants to replenish UN Green Climate Fund
European member states want to commit to increasing international climate financing to a new level. They want to replenish the UN's Green Climate Fund, according to a draft of a European Council statement, which is to be adopted at the EU summit next week. EURACTIV Germany was able to see the declaration in advance.
French insurance companies to divest from German top utility RWE
Following the move by major European insurers Allianz, AXA, Generali and SCOR, the two French insurance companies Macif and AG2R La Mondiale will no longer invest in companies planning new coal-fired power plants. Germany’s top utility RWE is among the companies most affected by the new decision.