Sustainable Finance Strategy Lacks Urgency
According to the Club of Rome, the latest European Commission finance strategy – "Strategy for Financing the Transition to a Sustainable Economy" – does not go far enough to change Europe’s financial system to support the transformation of the economy in line with sustainability ambitions and the planetary emergency.The financial sector is key to enabling positive change and fuelling a shift out of high-carbon and environmentally destructive practices. However, the overall approach of the new strategy is to make the current sustainable finance framework "workable and coherent" by taking a "