(Translated From Swedish)
A sustainable financial market within the EU
EUR 180 billion. It is the estimated cost of the measures required to reach the EU’s 40 percent reduction in climate emissions by 2030. There is no mention that all this should be earmarked exclusively from the state treasury bills or removed from the pockets of municipalities, but it must be pushed to private capital in large amounts. The financial sector has an important role to channel investments and loans where they are most needed. There are also risks in climate change that the financial sector must learn to recognize and manage.
These were challenges that the EU Commission recognised in 2016, in its decision to mobilize an expert group (HLEG). 20 experts from civil society, finance and academia were given the task of issuing recommendations for a sustainable financial market. Purpose: To integrate sustainability in the EU financial market framework; ensure that financial stability is not threatened by environmental risks; as well as mobilize capital to finance sustainable investments and sustainable growth.