Finance
EU Targets Finance for $415-Billion-a-Year Green Transition
- Bloc unveils sustainable finance strategy, green bond standard
- ‘Greenwashing’ is very visible, says Commissioner McGuinness
Photographer: Krisztian Bocsi/Bloomberg
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The European Union proposed a swathe of new rules to bring the world of finance in line with its ambitious goal to make the region carbon neutral by the middle of the century.
The European Commission wants tighter measures on banks and credit rating agencies to better reflect the risks climate change poses to the financial system. The bloc also set out its green bond standard, a voluntary rulebook that issuers of sustainable debt will have to abide by should they want the EU stamp of approval.