Green Finance Alliance Progress report 2023

The Green Finance Alliance aims at future-oriented financial companies, which are committed to align their core businesses with an 1.5 °C pathway. With its criteria and transparent governance structure, our Austrian initiative is a global pioneer. We see that investments in the expansion of renewable energies are increasing substantially around the globe. The transformation towards a more sustainable economic system offers vast employment and regional economic value-creation opportunities.

The green transition also pays off from an economic perspective. By integrating climate protection and sustainability, business models become resilient and sustainable in the long term. The EU Sustainable Finance Strategy, the Taxonomy Regulation and the Corporate Sustainability Reporting Directive provide the respective regulatory framework. It is now a matter of acting within these requirements and implementing measures as quickly as possible.

As the public sector, we are creating both financial and regulatory frameworks to encourage climate-friendly business practices. Collaboration between businesses, the public sector and private individuals are helping to accelerate the transformation towards climate neutrality. Initiatives like the Green Finance Alliance are prime examples of such collaborations.

A lot has happened since the launch of the Green Finance Alliance in 2022. Members were required to implement the first 25 criteria, thus have already taken an important step in the right direction. In addition, the Green Finance Alliance accepted another f inancial company as a new member. At the same time, the evaluation process took place for the first time this year: Monitoring is a central element of the Green Finance Alliance and determines whether the members are thoroughly implementing the criteria.

In this first progress report of the Green Finance Alliance, you will find profound information about the development of the initiative. Members’ climate and engagement strategies guide the way to achieve climate neutrality in their core business. Accompanied by our experts, members continue to work towards achieving the initiative’s climate goals.

Herausgeber:

Federal Ministry for Climate Action, Environment, Energy, Mobility, Innovation and Technology

Ausgabejahr:

2023

Ausgabeort:

Vienna

Format:

Download

Kategorie:

Green Finance

Seitenanzahl:

44