Recommendations following the meeting on 27 September 2022
During its meeting on 27 September 2022, the independent tripartite High Level Group on Financing Sustainability Transition continued to ‘think outside-the-box’ on the financial and geopolitical aspects of the sustainability transition in the EU. The following points were discussed:
Dealing with the urgency: policy answer to the European energy crisis. Members discussed how to manage the industrial and societal demand in a context of energy scarcity, and how to design proper emergency measures to mitigate the harmful impacts of the crisis on the economy and society in the short-term, without compromising the long-term financial viability and the EU climate objectives.
Improving the financial and banking system: implementation of the EU Sustainable Finance Strategy (2021). Members took stock of the progress made in the implementation of the EU Strategy, and discussed the remaining necessary reforms of the financial and banking system to steer capital towards the transition.
Ensuring strategic autonomy and security of supply in the long-term. Members discussed how to avoid new trade dependences on the pathway towards climate-neutrality.