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European Financial Services Round Table
 





Wednesday, July 10, 2019
EFR paper on Sustainable Infrastructure Investment in Europe

Identification of financeable projects and the practical challenge of channelling institutional investment to them.

The European Financial Services Round Table (EFR), comprised of Chairmen and Chief Executive Officers of international banks and insurers with headquarters in Europe, has published a paper on Sustainable Infrastructure Investment in Europe.

The EFR recognizes that concerning sustainable finance and climate change the financial sector as well as the public sector both have a key role to play in delivering a strong and viable economy, which is long-term and sustainable. In its Paper the EFR asks attention to the identification of financeable projects and the practical challenge of channelling institutional investment to them.

The EFR paper addresses this issue and presents proposals, which in our view could be incorporated within or alongside InvestEU. Taking on board our proposals would involve:

  1. more private sector involvement in the gap analysis;
  2. developing a toolkit and educational material for investment targets; and
  3. better acknowledgement of the private sector as a delivery partner.

This issue was also raised in the reports of the Technical Expert Group, which were published on 18 June 2019: "However, the TEG highlights that one of the barriers to the green bond market development is the lack of green projects and green assets and that policy measures to enhance real economy investments in green assets and infrastructure are essential for achieving the ultimate targets.".

Furthermore, it was mentioned in the final report of the High-Level Expert Group on sustainable finance and in Action 3 of the European Commission's Action Plan on financing sustainable growth ("Fostering investment in sustainable projects").