"The EU wants private capital to contribute to the commitments made at the Paris Climate Summit and to a certain extent, the UN Sustainability Goals.The paper written by SOMO researcher Myriam Vander Stichtele explores recent EU-legislation that should support this policy, “Sustainable finance in new EU legislation: focus on climate investment”. "
"On the 24th of May 2018, the European Commission has proposed a package of three laws that should encourage the financing of activities that tackle climate change, and to a lesser degree the financing of activities that should boost a sustainable economy. It stipulates measures to avoid greenwashing, i.e. abusive claims to be ‘green’ investments, and to integrate environmental, social and governance (ESG) risks in investment decisions. While this is a first step towards sustainable finance, these measures will not compel a massive shift in financial flows, nor comprehensively integrate sustainability in the financial sector "
Read the full report at
https://www.somo.nl/wp-content/uploads/2018/06/Sustainable-finance-in-new-EU-legislation.pdf
