Background and objectives of the session
The EU Green deal has ambitious objectives for climate, but also for the fight against pollution and waste, the development of a circular economy and the reverse of the alarming decline in ecosystems and biodiversity. Additional investments to address these objectives are estimated at 130 € billion per year. These objectives will be progressively included in the EU taxonomy.
These objectives are also political priorities for for the global community; they are part of the 21 Sustainable development goals agreed by the United Nations in 2021. The preservation of biodiversity has also been discussed at the COP 15 in Kumming, which should reconvene in a near future.
The financial sector has started to work on these issues, even on biodiversity, with initiatives like Finance for Biodiversity Pledge, the Taskforce for Nature-related Finance disclosures (TFND) etc.
This session will be dedicated to assess the challenges emerging in the 4 environmental fields of biodiversity, water, pollution and circular economy and to discuss the consequences for the financial sector. It will then discuss the best operational way to address these new challenges and to overcome its concrete difficulties.
Questions to be addressed during the session
- Emerging ESG challenges (biodiversity, circular economy etc) : what is at stake ? What are the actual priorities and the consequences for the financial sector ?
- What are the policy options available to better involve the financial sector regarding the additional ESG challenges ? How to avoid overburdening the financial sector -and indirectly non-financial firms- which could be counterptoductive ? How to develop public-private partnerships which seem indispensable in these areas ? What are the sustainability policies still missing ?