EU action plan on green finance elicits doubts from German finance industry
Handelsblatt
Handelsblatt
The European Union鈥檚 action plan on making the financial industry more sustainable has raised doubts in Germany鈥檚 financial industry as some fear it may curtail the autonomy of investors, . While the plan鈥檚 central idea to apply sustainability criteria to different investments and rank them accordingly is 鈥渞ight in principle,鈥� it is very difficult to develop these criteria in a fully transparent and comprehensible manner, says Julia Backmann of the German Investment Funds Association (BVI). Like others in Germany鈥檚 financial industry, she fears sustainability criteria ultimately could overrule profitability considerations, meaning that 鈥渋nvestors and fund managers will be told what to invest in and what not to invest in,鈥� Backmann says.
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