EU Aims to Tackle Climate Change With Newly Adopted ‘Green Finance’ Guidelines

European Union blue and gold flags flying at the European Commission building in Brussels, Belgium. Newly adopted guidelines set forth by the European Commission Tuesday aim to tackle climate change by way of the financial sector. The move comes to bolster the success of the Sustainable Action Plan published last year to reorient capital flows toward sustainable investment and manage financial risks from climate change, environmental degradation and social issues. In short, the guidelines help define an environmentally friendly investment by providing companies with recommendations on how to report the impact of their activities on the climate, as well as how climate change impacts their business. “The climate emergency leaves us with no choice but transit to a climate-neutral economy model,” said Valdis Dombrovskis, vice-president responsible for financial stability, financial services and capital markets union. “Today’s new guidelines will help companies to disclose the impact of the climate change on their business as well as the impact of their activities on climate and therefore enable investors make more informed investment decisions.” Efforts will ensure that 6,000 European Union (EU) companies, banks and insurance agencies transition to a climate-neutral economy, furthering 2030 climate and energy framework seeking to cut carbon […]

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