Regulate banks to fight climate change

Banks must be front and centre for Europe to mobilize its financial system in the fight against climate change.

Frontline: London’s Canary Wharf

At the start of this year, a high-level expert group on sustainable finance provided recommendations to the European Commission as part of its effort to deliver the 40% cut in greenhouse gas emissions by 2030 agreed at the Paris conference in 2015. 

The Commission recognizes that this may require €180 billion a year in additional investment and that the public sector alone cannot foot the bill. Rather, flows of private of capital must be reoriented.

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