European Commission with new steps towards building Capital Markets Union
The new Action Plans on Sustainable Finance EU has already been adopted
- March 12, 2018 21:00, 1820 impressions
- Monika Dimitrova
The European Commission presents Action Plans on sustainable finance and financial technology and adopts legislative proposal on crowdfunding. As part of its efforts to build a Capital Markets Union the Commission presented a new series of actions that aim to connect finance with the specific needs of the European economy and to enable the financial sector to make use of the rapid advances in new technologies.
The new Action Plan has three objectives: re-orient capital flows towards sustainable investment; manage financial risks from Climate change and foster transparency and long-termism. It is also one of the key steps towards implementing the historic Paris Agreement. Around €180 billion of additional investments a year are needed to achieve the EU's 2030 targets agreed in Paris, including a 40% cut in greenhouse gas emissions.
Source: European Commission