The urgency to succeed in financing the energy transition and reorienting private capital to sustainable investments requires a comprehensive shift in how the financial system works. The role of major market participants, investors, and policymakers in facilitating this shift is essential. To develop more green and sustainable economic growth, there is a need to:
- broaden access to the market through innovation and diversification;
- further develop global standards and taxonomies;
- enhance disclosure and reporting;
- fully incorporate fintech and digitisation;
- fully address biodiversity and nature-related risks
Beyond its quasi-moral obligation, mobilising finance for the energy transition is a historic opportunity, especially for the EU to act and lead as a true pioneer, that should not be missed.