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New EU Sustainable Finance Strategy reaffirms value of international partnerships
The European Commission has adopted a new ‘Strategy for Financing the Transition to a Sustainable Economy’. The American Chamber of Commerce to the European Union (AmCham EU) commends the great emphasis that this new strategy places on the value of international partnerships and cooperation in this field.
AmCham EU particularly welcomes the Commission’s invitation to all international partners to deepen cooperation in this field and to seek an ambitious consensus on the design of a robust international sustainable finance architecture. This includes steps to build consensus on international sustainable reporting standards to improve the quality and comparability of Environmental, Social, and Governance information.
Over the last three years, AmCham EU has greatly appreciated the open dialogue with both the EU institutions and Member States on the sustainable finance agenda. We look forward to deepening our dialogue with the EU in the context of the new strategy.
The transition to a more sustainable economy is a historic, ambitious, and necessary undertaking which will require significant investment. To achieve the EU’s targets, AmCham EU believes that the financial system can and should play an important role to channel the sustainable investments necessary to finance the transition. A high degree of coordination between the public and private sector is essential.
AmCham EU will continue to play its part in convening public-private dialogue, lending its members expertise to finding solutions, and fostering transatlantic cooperation on this critical challenge.
AmCham EU is a long-standing supporter of the EU’s sustainable finance agenda which seeks to mobilise private capital to meet climate and sustainability goals. In 2018, AmCham EU established a dedicated Sustainable Finance Task Force (SFTF) to engage with the EU’s policy agenda in this space and to promote transatlantic dialogue. The goal of the SFTF is to support EU policymaking by leveraging the expertise and experience of financial and non-financial corporates from across AmCham’s membership.
The work of the SFTF is guided by three core principles: regulatory certainty and economic stability, evidence-based policy, and international openness. We believe that these principles remain essential elements of public policy as the EU embarks on this new strategy to finance the transition to a sustainable economy.
Read more about AmCham EU’s Sustainable Finance Task Force.