|Author (Corporate)||European Commission: DG Financial Stability Financial Services and Capital Markets Union|
|Series Details||COM (2021) 390|
|Content Type||News, Policy-making|
Communication published by the European Commission on 6 July 2021, setting out a number of initiatives aimed at increasing investment in the transition towards a sustainable economy in the European Union (EU), while also tackling climate change and other environmental challenges.
The European Commission published its first Action Plan on financing sustainable growth in 2018. Based on that plan, the European Union (EU) put in place three building blocks for a sustainable framework: a taxonomy of sustainable activities, a disclosure framework for non-financial and financial companies, and investment tools. However, understanding of what is require to meet sustainability goals evolved since then, and the global context changed too. It has thus been deemed necessary to launch a new phase in the EU's sustainable finance strategy.
The strategy presented by this Communication includes six sets of action:
It builds on the 2018 Action Plan, a report published by the Platform on Sustainable Finance and a consultation held in April-July 2020. Its publication aims at achieving the wider goals set by the European Green Deal. The Communication was published on 6 July 2021 alongside a legislative initiative concerning the European Green Bonds.
|Subject Categories||Economic and Financial Affairs, Environment|
|Subject Tags||Financial Services, Sustainable Development|
|International Organisations||European Union [EU]|