Green Finance in Europe — Strategy, Regulation and Instruments

Brühl, Volker

doi:10.1007/s10272-021-1011-8

Cited by 14 publications

(9 citation statements)

References 3 publications

(2 reference statements)

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“…In this case, we are talking about the unification of taxonomies at the supranational level and at the level of individual jurisdictions. An accurate classification system is needed to accurately define the criteria that sustainable or green investment products shall meet [43][44][45]. In this regard, at the level of national jurisdictions, it seems necessary to significantly expand the circle of participants in the discussion, which should not be limited to working groups.…”

Section: Discussionmentioning

confidence: 99%

Comparative Legal Aspects of the EU and Russia Policy in the Field of Green Financing

Tsindeliani¹,

Proshunin²,

Sadovskaya³

et al. 2023

IJSDP

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The purpose of the article is to consider, using the example of the EU and Russia, potential challenges and problems of legislative regulation of green finance in the framework of the implementation of the current sustainable development agenda. Using the method of political and legal analysis, the study analyzes the current state of legal regulation and political initiatives of the Russian Federation and the EU in the field of green finance. Initially, the paper considers the legal institutionalization of green finance in the field of financial legal relations, and certain legal aspects related to environmental taxes within the framework of the green finance system. Further the work moves on to a review and analysis of EU and Russian policy along with legal and regulatory aspects in the field of green finance. The research gives reason to say that both Russia and the EU are characterized by the lack of unified definitions within the framework of green investments, which creates additional obstacles for potential investors. Of particular importance for the development of the green finance sector is the development of systems and standards for assessing the impact of green finance on the achievement of environmental goals. However, there is currently no legal institutionalization of such standards, which takes the issue beyond the scope of direct legal regulation. Russia, in order to join the global process as a full participant, needs to work out a number of issues of a legal and organizational nature, including issues of the legal nature and system of environmental payments, their administration, in particular determining the procedure for interaction with external verifiers in the framework of the green projects implementation. The lack of political motivation inhibits initiatives in the sphere, while the issues of legal regulation often undeservedly remain in the shadows. This, in turn, causes a theoretical gap, which this work intends to fill. In order to ensure sustainable development, the possibilities of international regulatory cooperation and the harmonization of legislation are becoming important. From a practical point of view, the study is of interest to both lawyers and specialists in the field of financing and investment.

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Section: Discussionmentioning

confidence: 99%

Comparative Legal Aspects of the EU and Russia Policy in the Field of Green Financing

Tsindeliani¹,

Proshunin²,

Sadovskaya³

et al. 2023

IJSDP

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“…Green finance is usually defined as a subset of sustainable finance, i.e. the financing of investments that contribute to the attainment of one or more environmental objectives, which include "climate change mitigation" and "climate change adaptation" (Berrou et al 2019, Brühl 2021, European Commission 2021a, European Commission 2017, Hong et al 2020, IFC 2017, Schoenmaker 2019. While many asset managers and investment firms have expanded their offering of ESG products in recent years, an increasing number of cases of "greenwashing" have been identified in the recent past, i.e.…”

Section: The Regulatory Framework Of Sustainable Finance In Europementioning

confidence: 99%

“…flood protection). Other objectives include the protection of water and maritime resources, the transition to a circular economy, the prevention of pollution and the protection of biodiversity and ecosystems (Brühl 2021).…”

Section: Disclosure Requirements For Financial Products and Financial...mentioning

confidence: 99%

The Green Asset Ratio (GAR) – A New KPI for Credit Institutions

Brühl¹

2023

SSRN Journal

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“…Además, se planteaban otros objetivos complementarios, como reforzar los sistemas sanitarios, adaptar los sistemas educativos a las competencias necesarias para los retos del siglo XXI y fortalecer los esfuerzos en materia de igualdad en sus diferentes dimensiones (Comisión Europea, 2023a Actualmente, el PVE cuenta con un presupuesto estimado de un billón de euros de los cuales una parte importante saldrá de fondos específicos generados por la Comisión, los Estados Miembros y otras instituciones financieras europeas, y otra parte de otros fondos europeos prexistentes, a los cuales se les exigirá destinar al menos un 30% de sus asignaciones presupuestarias a proyectos orientados a objetivos de sostenibilidad ambiental. Entre otros, los FNG tienen que cumplir con este criterio del 30%, lo que supone que, de los 800 mil millones presupuestados, en torno a 250 mil millones se destinarán a iniciativas vinculadas a la transición ecológica (Brühl, 2021). Este es, por ejemplo, el caso del Plan de Recuperación español, que se analizará a continuación.…”

Section: La Nueva Estrategia De Desarrollo Sostenible Europea: Fondos...unclassified

Avances en la Agenda 2030 desde España y la Unión Europea. Pacto Verde Europeo, Fondos NextGen y Plan de Recuperación

Cruz Prego

2023

internationalrelation

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En el año 2019 comenzó la legislatura del gobierno de coalición progresista en España, que tomó como marco de referencia para el despliegue de la acción pública la Agenda 2030 y los ODS. En paralelo, la Unión Europea presentaba ese mismo año su nueva estrategia de desarrollo sostenible con el Pacto Verde Europeo como buque insignia. Además, unos meses más tarde se aprobaban los Fondos Next Generation para hacer frente a la crisis del covid e implementar así las prioridades de desarrollo europeas a través de los Planes de Recuperación de los Estados miembros. La combinación de la voluntad política e institucional del gobierno español junto con los fondos y la orientación estratégica europea han cristalizado en el Plan de Recuperación español, que apunta a avances significativos para el país en las tres dimensiones de los ODS (económica, social y medioambiental). En los próximos años, con el despliegue completo del Plan y sus primeros resultados, se podrá valorar si el impacto del Plan ha sido de carácter coyuntural o estructural.

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Green Finance in Europe — Strategy, Regulation and Instruments

Abstract: A green transformation of nearly all parts of our economy is necessary, including but not limited to energy production and consumption, mobility, manufacturing and agriculture.

Cited by 14 publications

References 3 publications

Comparative Legal Aspects of the EU and Russia Policy in the Field of Green Financing

Comparative Legal Aspects of the EU and Russia Policy in the Field of Green Financing

The Green Asset Ratio (GAR) – A New KPI for Credit Institutions

Avances en la Agenda 2030 desde España y la Unión Europea. Pacto Verde Europeo, Fondos NextGen y Plan de Recuperación

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