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Climate change and the measures taken to mitigate its negative consequences should be of great concern to European citizens, economies and ultimately financial stability. Experts agree that billions of euros are needed every year to reduce emissions and limit the risks of climate change. With the ESM's mission to protect financial stability, we consider it important to examine the financing of the green transition and what can be done to close any financing gap.
Commitments, legislation and policies are just the beginning
In response to the risks of climate change, the member states of the European Union (EU) are planning climate neutrality by 2050 in accordance with the commitment to global climate change under the Paris Agreement. To achieve this, the EU has turned the carbon neutrality plan into binding European law through legislation and policies. These measures, although only a first step, mean realistic and reasonable limits on carbon emissions in the EU. (More on esm.europa.eu)
