When it comes to regulation, no one is ever particularly excited. As Otto von Bismarck reportedly said, laws are like sausages – good to have but no one wants to see how they are made. Lawmakers are always rushed and those who are regulated find the rules cumbersome and often only accept them begrudgingly.
Although there is widespread societal support for climate change mitigation across Europe, the EU sustainable finance agenda is no exception. The sausage factory was hard at work despite the pandemic. To match the sense of urgency that the EU Commission has imparted, both experts and lawmakers got busy scraping, grinding, blending and stuffing(1) to meet the tight deadlines.
In this edition of NordSIP Insights, we poured over the EU Sustainable Finance Action Plan, reviewing the progress of its initiatives, and taking in-depth looks at the Taxonomy, the EU Green Bond Standards and Disclosures.
We talked to eight asset owner and asset manager experts, from Sweden, Denmark, Finland and beyond to understand what effect the new rules will have on the industry: State Street’s Ciara Horigan and Carlo M. Funk, Kåpan’s Marie Giertz, Storebrand’s Kamil Zabielski, Varma’s Hanna Kaskela, SEB Investment Management’s Robert Vicsai, Öhman’s Fredric Nyström, Danske Bank’s Erik Eliasson, Swedbank Robur’s Karolina Skog and Handelsbanken’s Karin Askelöf.
For those curious about stakeholder reactions, we also offer deep-dives into forestry, real estate and nuclear energy.
As 2019 and 2020 saw ideas become plans, and the plans turn into texts, 2021 is the year when words become actions. While not everyone has yet arrived at the party and some mustard still needs to be added, the finance industry will soon bite into that sausage.
(1) 100% vegan and plastic-free raw materials were used
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1. the editor’s word
2. The EU Sustainable Agenda – 2021 and beyond
3. The EU Sustainable Finance Action Plan
4. Taxonomy and Green Bonds
5. The Asset Manager’s Perspective
6. The Asset Owner’s Perspective
7. Taxonomy and Forestry
8. The Nuclear Debate
9. EU Real Estate