I4CE & E3G host breakfast meeting to push ambition on sustainable finance

21 June 2018 - Blog post - By : Alice PAUTHIER

and E3G – Third Generation Environmentalism in partnership with the Permanent Representation of France to the European Union held a breakfast meeting to discuss the following issue :

 

How the EU can mobilise sufficient capital to meet the needs of a sustainable economy, building on that proposed in the European Commission’s Action Plan on Financing Sustainable Growth and the EU Budget post-2020 ? 

 

This invitation-only meeting held under Chatham House rules brought together a select group of MEPs, EU Commission representatives, financial sector actors, and think tanks.

 

I4CE presented lessons for the EU on how the “greening” of the bond market demonstrates current obstacles to redirecting investment and finance and why a holistic tracking of financial flows supporting climate investment is needed to understand what policy and market levers are efficient towards this goal. This drew on I4CE recent publications on green bonds (available here) and the 2017 French Landscape of Climate Finance report.

 

From I4CE‘s perspective, three key messages from our research were addressed :

  • Commission’s Action Plan and legislative proposal must be seen in light of: « greening » the financial sector, without generating a new pipeline of investments, will not necessarily contribute to achieving climate objectives.
  • Financial instruments, such as green bonds, have important « informational » roles to play, however an ESG checklist approach to labeling is not appropriate to ensure ‘climate-coherence’ (not to mention ‘Paris’).
  • A holistic approach is needed to thinking about investment – and how it is financed – to understand how the financial system can support the low-carbon resilient real economy. I4CE has piloted an approach in France to assist in doing this.

 

I4CE and E3G will continue the discussion started at this event. The aim is to ensure that the greening of the financial sector’s activities contributes directly to financing European and global climate objectives.

 

Please find here a list of participants and I4CE’s presentation.

 

This event and I4CE‘s 2018 reports on the green bond market were supported financially by the ClimateWorks Foundation.

To learn more
  • 03/12/2020 Op-ed
    Op Ed I Banks’ capital requirements for the climate: Let’s ask the right questions

    For several years now, the idea of using capital requirements for environmental purposes has been gaining ground. But before this can happen, however, several questions about such requirements need to be resolved, particularly as regards the instrument to be used and the objective to be achieved. Michel Cardona from I4CE has released this OpEd available on Euractiv

  • 06/21/2018 Blog post
    I4CE & E3G host breakfast meeting to push ambition on sustainable finance

    I4CE and E3G – Third Generation Environmentalism in partnership with the Permanent Representation of France to the European Union held a breakfast meeting to discuss the following issue …

  • 02/04/2021 Blog post
    Indeed, banks are able to manage physical climate risks

    Some of the heat waves and wildfires that were experienced in Europe and in the world in the summer of 2019 are symptoms of a climate that is already changing. These events may cause losses for banks and other financial institutions, which will therefore have to integrate climate change into their decisions. Regulators are also pushing in this direction.

See all publications
Press contact Amélie FRITZ Head of Communication and press relations Email
Subscribe to our mailing list :
I register !
Subscribe to our newsletter
Once a week, receive all the information on climate economics
I register !
Fermer