The European Banking Federation supports the holistic and harmonized approach of the European Parliament to the sustainability agenda. To mobilize the capital for sustainable activities, we recognize the need to identify in a clear and operational manner what constitutes sustainable characteristics, improve transparency, data collection as well as step up the educational efforts. While recognizing the challenge of the tasks, it is important to find a balance between i) clear and unambiguous definitions that adequately identify all the risks and opportunities depending on the economic sectors considered, ii) greenwashing, iii) transparency on one hand and the operational feasibility to allow its usage by companies to improve their sustainable actions and reach the objectives set out in the Paris agreement on the other hand. It needs to be kept in mind that only “easy to understand” and “ready to use” tools will enable the mobilization of all actors in the required scale and timeframe.
The EBF is the voice of the European banking sector, bringing together national banking associations from 45 countries. The EBF is committed to a thriving European economy that is underpinned by a stable, secure and inclusive financial ecosystem, and to a flourishing society where financing is available to fund the dreams of citizens, businesses and innovators everywhere.
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