Towards a more sustainable EU financial system | WWF

Towards a more sustainable EU financial system

Posted on 14 September 2016
A move towards more sustainable finance
© Shutterstock / isak55 / WWF
WWF welcomes the European Commission's new Communication on the Capital Markets Union, that confirms the creation of an expert group to develop a European strategy on sustainable finance.
Such a strategy is indeed critical to move towards a more sustainable EU financial system, and should become a building block of the forthcoming EU2030 strategy. The expert group should include civil society organisations.
The  Commission  also “supports  alignment  of  private  investments  with  climate, resource efficiency  and  other  environmental  objectives,  both  through  policy  measures  and public  investment”.This is welcome to ensure much-needed consistency between private investments and EU environmental objectives.

The Commission should make bold use of the G20 Green Finance Study Group’s recommendations and of the Financial Stability Board’s Task Force on Climate-related Financial Disclosures to make the midterm review of the Capital Markets Union in 2017 a success: transform the EU into a global sustainable finance policy leader.