“We shall require a substantially new manner of thinking if mankind is to survive.”

“Sustainability should be an integral part of everyday culture, processes and decision making. Sustainable future is about achieving long-term business benefits and prosperity. Once financial system fully embraces financial as well as societal and environmental benefits, all finance will be sustainable. We will no longer need to speak about sustainable finance as such.”

“In Europe banks have a special responsibility that comes from being in the centre of our financial system.”

To meet the objectives of Paris Agreement and the Sustainable Developments goals, trillions of euros will need to be mobilised globally. Europe alone has identified a yearly financial gap of more than 180 bn euro to finance policies and investments necessary to keep the global temperatures in line with the objectives of the Paris Agreement. It is clear that without the private sector the funding gap cannot not be closed. Given that around two thirds of the European economy is financed by banks, banks play and will continue to play a crucial role in the transition to a more sustainable future.
To reach the objectives of the Paris agreement, the growth of sustainable activities must take place throughout all economic sectors. The sustainable financing markets must mirror the sustainable developments in the real economy and be able to finance and support that development without too many limitations. Most companies are at different stages in their transition journey towards low-carbon and sustainable activities. Banks have a key role to play in supporting corporates on this journey. The steps being taken towards increased sustainability should be encouraged and supported by the EU legislation.
EBF Strategic priority
Transformation of the banking sector
Opportunity for banks to connect societal and financial goals