Sustainability in the Spotlight
From discussions on Agenda 2030, to the need for climate action now, to new partnerships and projects, to global warming, gender pay gap, to Greta sailing over the Atlantic, and more. Undoubtedly, you have read about or recall seeing at least one of these happenings in recent months – and for a good reason. Sustainable development, as a topic of political discussion and action has remained high on the agenda, on all levels.
While sustainable development has inspired many joint initiatives, projects and partnerships, it has also brought about the realization that many political goals and targets will not be possible without significant public and private investments. The mention of ’investment’ brings numbers to mind – and indeed, the current levels of investment are not enough to support a sustainable system. To achieve EU´s climate and energy targets (only), an annual 180-billion-euro gap needs to be bridged.
This, among else, has given prominence to sustainable finance discussions on EU level, and the (reinvented) role of the finance sector, both in the former and currently new setting of the EU institutions.
NFU has been actively participating in the discussions on sustainable finance by, among else, highlighting the perspective of finance sector employees and trade unions. Following the European Elections, we see that the work with the EU Action Plan: Financing for Sustainable Growth continues and that the current Finnish Presidency of the Council of the EU prioritizes the work with the Taxonomy.
It is evident that sustainable finance is here to stay, offering an opportunity for deepening our work and partnerships. We see the need to broaden the scope of sustainable finance beyond sustainable investment only, to lift the importance of social considerations as equal to environmental ones, and to amplify the role of trade unions and finance sector employees.
For us at NFU, finance sector employees are at the heart of the financial sector – by being value creators, by having a key role in implementing regulation, by being the ’face’ of the financial sector to customers, and more. Together with finance sector employees, trade unions hold tremendous potential as key drivers and accelerators to sustainable development. With this in mind, NFU will continue to be an active stakeholder in the sustainable finance discussions, both for now and the future.