Europe launched its green bond program. Sebastian Mack warns that EU member states and the European Commission must now do their utmost to effectively prevent greenwashing.
This month Europe launched its record 250 billion euro green bond program. With this green bond issuance, the EU is sending a forceful signal to financial markets that it is eager to defend its leadership in sustainable finance. “It is now in the hands of the member states to keep the door to greenwashing closed”, comments Sebastian Mack. But also the Commission bears responsibility: “If projects labelled as green do not deliver on climate protection, they must be sorted out and financed by conventional bonds.”
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