EC takes further steps to boost investment for sustainable future

Written by Adam Cadle

13/06/2023

The European Commission (EC) has put forward a new package of measures to build on and strengthen the foundations of the EU sustainable finance framework.

The aim of the package is to ensure that the EU sustainable finance framework continues to support companies and the financial sector, while encouraging the private funding of transition projects and technologies.

Specifically, the Commission is today adding additional activities to the EU Taxonomy and proposing new rules for ESG rating providers, which will increase transparency on the market for sustainable investments. The package aims to ensure that the sustainable finance framework works for companies that want to invest in their transition to sustainability. It aims also to make the sustainable finance framework easier to use, thereby continuing to contribute effectively to the European Green Deal objectives.

“The EU has achieved a great deal to promote sustainable finance over the years. Today we are going even further in completing the regulatory landscape to help generate much-needed investments for sustainable growth. It is essential that the rules and instruments in place are coherent, user-friendly and work effectively on the ground. At the same time, we want to ensure that all companies can get finance to invest in their transition to sustainability. This is also important to increase the long-term competitiveness of Europe’s companies and economy and to fight climate change,” Valdis Dombrovskis, EC executive vice-president responsible for an Economy that Works for People, said.

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