EC Action Plan on Sustainable Finance

This has now been published and you can find it here.

One of the biggest risks to the financial sector from climate change is policy risk.  As part of the transition to a low carbon economy, governments have promised to take action.  Action which has the potential to quickly change asset prices – up and down.  Until now we have not had a clear idea of what governments would actually do, so the risk was known but very unclear.  Until now.  The EC’s action plan in response to the HLEG report is by far the most comprehensive set of policy measures yet to attempt to deliver sustainable finance – not just to finance the climate transition, but also other aspects of the UN’s sustainable development goals.  This could be the first implementation of something truly important for the world’s future … or a missed opportunity.  Over to the EU/EC to deliver on its own plan and the UK Government to emulate.  (Global warming does not recognise national boundaries.)

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