The European Commission's Sustainable Finance Action Plan

Abstract

The European Commission points out that we are increasingly faced with the catastrophic and unpredictable consequences of climate change and resource depletion. The Commission claims that current levels of investment are not sufficient to support an environmentally-sustainable economic system that fights climate change and resource depletion. According to the calculations of the Commission, more private capital flows need to be oriented towards sustainable investments to close the €180-billion gap of additional investments needed to meet the EU’s 2030 targets of the Paris Agreement. The Commission concludes that the financial system has a key role to play here.

Keywords: European Commission, Climate Change, Resource Depletion, Sustainable Finance, Action Plan, Paris Agreement