New European Union regulation on sustainability could have a disproportionate impact for emerging Europe, banking and housing, experts have warned.
Speaking at Euromoney’s virtual CEE Forum on January 13, Jennifer Johnson of the European Mortgage Federation highlighted the risks posed to the region by the EU’s taxonomy for sustainable activities.
From January 2022, the taxonomy will define which businesses and transactions within the bloc can count as sustainable for the purposes of financing. Initially, it will only cover climate change, although four more environmental objectives – water, circular economy, pollution control and biodiversity – are due to be added by 2023.
Markets with less well-performing building stock… will potentially suffer
Jennifer Johnson, European Mortgage Federation
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