29.10.2021 Sustainable investing is no longer a matter of reputation, it is a necessity
“The goals for a low-carbon EU future will become mandatory by 2024 for various economic subjects. To carry out Europe’s transition to a climate-neutral economy, we will need political commitments, a strategy and a plan, developed sources of funding, large-scale investments, and a clear regulatory framework. The role of banks in this process as one of the sources of financing for the transition is crucial,” said Sofiya Kasidova, Head of Strategic Development and Planning for BDB, at the annual forum The Future of Money of the Manager magazine.
The foundations of a CO2-free future will be built through the EU policies for competitiveness, state aid, sustainable finance, for the Common Energy Union, and green/sustainable targets. The sourcing of financial flows to climate-sustainable projects will be carried out mostly through the banks and capital markets.
“BDB is developing a strategy for sustainable development and will be helping the business sector in this transition. The bank will take part in the development of a green financial market for debt and equity capital, for funding of renewable energy sources, green power and low-carbon transport, and will develop debt instruments for green financing in order to raise capital to cover the funding gaps. As expensive as the transition may be, it needs to happen because we will pay less now instead of when climate cataclysms begin to spread,” said Sofiya Kasidova to summarize her participation in the green investments panel.