“We, the signatories, represent sectors of major importance for European economic development and wealth. We provide highly skilled jobs to Europeans and invest in innovative solutions, renewable and efficient technologies that make the transition to a competitive, low carbon and circular economy in Europe possible. Doing so, we help fight climate change and lead the way towards a more sustainable world.”
A joint statement, driven by CEPI and others.
“We welcome efforts to mobilise the financial sector in accelerating the move towards a prosperous and sustainable Europe in 2050. To achieve this, a stable, fair and favourable investment framework in Europe will be key. In that regard, the European Commission’s Sustainable Investment Regulation proposal (so-called ‘Taxonomy Regulation’) is an important and necessary step and the draft report recently tabled by the Technical Expert Group (TEG) (mandated by the Commission) sets out a first basis to define what sustainable investments are. Yet the TEG report is insufficient and needs serious improvements to provide the clarity, objectivity and predictability needed in order to accelerate investments in sustainable solutions, guarantee affordable financing, safeguard energy supply security at acceptable cost, but also boost innovation and competitiveness in Europe. To this end, the Sustainable Investment Regulation and derived Taxonomy should apply the following key principles: