Open Letter to the EU Commission for credible Sustainable Finance Rules
EU-Comissioner McGuinness, Vice-President of the EU-Commission Dombrovskis
German version / Background information
- Personal letter from actors in the field of Sustainable Finance -
Dear Commissioner McGuinness,
Dear Vice-President Dombrovskis,
We are writing to you today as providers, investors and other professional stakeholders in the Sustainable Finance sector. In these weeks, the European Commission, in close consultation with the Member States, will decide on the precise rules (“delegated acts”) for implementing the taxonomy of sustainable finance.
We welcome the EU Commission's aim to develop the European Union into a leading market for sustainable finance. The Sustainable Finance Strategy will support the EU in becoming the first greenhouse gas neutral continent. At the same time, it will provide an impetus for ecological innovation in our economies and support the sustainable transformation of value chains. In order to leverage this great potential for our businesses, clear rules are essential as to what counts as Sustainable Finance and can be marketed as such and what cannot.
Here, the classification system ("taxonomy") is crucial for the future of our Sustainable Finance sector. If investments are labelled as sustainable when in fact they are not, this will jeopardise the credibility of this growing market and will have a negative impact on the attractiveness of the EU as a green business and finance hub.
We are therefore very concerned that EU member states are pushing to deviate from the science-based recommendations of the Technical Expert Group on Sustainable Finance (TEG) on key issues. Under no circumstances should conventional gas-fired power plants or related infrastructure be counted as a greenhouse gas mitigation measure or an adaptation measure. It would therefore be wrong to raise the threshold values of 100 g CO2/kWh and 262 g CO2/kWh against the recommendations made by the expert group.
Weakening the thresholds in one area also risks setting a precedent for all other critical areas of the taxonomy. Thus, investments in nuclear energy and in unsustainable forms of forestry should not be considered "sustainable" either.
The taxonomy is the backbone of the European Union's efforts to build and expand sustainable and thus future-proof financial structures. It is completely unsuitable for symbolic politics between national interests. There is a misunderstanding that needs to be cleared up:
Sustainable Finance stands for transparency and transformation, it is not about prohibiting certain investments. Sustainable Finance alone will not prevent any country from investing in understandably highly controversial projects such as the construction of new gas-fired or nuclear power plants and their infrastructure, or in destructive forest management. But if such investments are labelled as sustainable, the credibility and growth capacity of Europe as a forerunner in sustainable finance is gone. Important initiatives such as the EU Green Bonds Standard and the EU consumer label for sustainable finance will then no longer be in demand in keymarkets and will thus not be able to establish themselves.
Therefore, we appeal to you, Commissioner McGuinness and Vice-President Dombrovskis, not to give in to the pressure of individual states and their respective special interests. It is for you alone, as the Commission, to decide which standards you will propose from mid-April. The lowest common denominator among the Member States would be the worst possible future for Sustainable Finance.
Together with many others, we want to help the European Green Deal achieve a breakthrough. This requires success stories like the fast-growing Sustainable Finance sector. Strengthen our sector with clear rules that strengthen our credibility - instead of jeopardising it.
Yours sincerely
Sven Giegold, MEP
Kristina Jeromin
Bas Eickhout, MEP
More signatories will be added regularly. We sign this declaration as individuals with a professional role in sustainable finance. The selected signatures below do not bind the respective organisation or company.
Jakob Ache | Referent Finanzen, EU-Vertretung Bremen |
Mange Ram Adhana | Association For Promotion Sustainable Development |
Joscha Albert | GIZ |
Frederico Alcantara de Melo | Lawyer |
Mirjam Alo | Leiterin Nachhaltige Organisationsentwicklung, Zentrum für Nachhaltige Unternehmensführung |
Sibyl Anwander | Nachhatigkeitsberatung |
Christoph Arnold | Vorstand eG: FEGH.de |
Michael Bald | MB Agentur für Finanzdienstleistungen |
Roland Barfus | Aufsichtsrat BENG eG |
Verena Bax | Referentin EU-Energiepolitik und Klimaschutz |
Eliane Beaufils | Universität Paris 8 |
Katharina Beck | Senior Manager, Sustainable Finance Advisor, Accenture |
Hildegard Bedarff | Dozentin Universität Hamburg |
Claudia Behringer | Die Expertin für Finanzen mit Herz |
Victor Bemmann | Leiter Portfolio Management, Universal Investment |
Kerstin Berndt | ABzurVorsorge GmbH & Co. KG |
Rupert Bernklau | Geschäftsführender Gesellschafter |
Urata Biqkaj | Manager Sustainability Services, PwC GmbH WPG |
Christiane Bludau | Vermögensberaterin |
Judith Bogner | Finanzjournalistin |
Hannes Böhm | Forscher zu Klimawandel und Finanzmärkten |
Norbert Böhm | Selbständiger im Vertrieb von Umwelttechnik |
Marco Bonato | Unternehmensberatung Deutschland |
Anton Bonnländer | Republic sustainable Finance Consulting |
Meike Borchers | Director, Evora Global Germany GmbH |
Ulrich Brasche | Professot Volkswirtschaftslehre |
Gunnar Braun | Private Investor, Public Utility Expert |
Marcus Brenken | Vorstand ökofinanz-21 e.V. |
Dr. Michael Brestowsky | 1. Vorsitzender der "Gesellschaft für ökologischen Landbau" |
Robin Bruck | Wirtschaftsförderung |
Wilfried Brunck | Fachberater für nachhaltiges Investieren |
Steffen Brunner | Referent für nachhaltige Finanzierung, BMU |
Richard Buch | Fair Finance Guide, Facing Finance |
Andreas Buder | selbst.Tischler |
Carsten Busch | Quality Specialist / Lead Auditor |
Gunther Capelle-Blancard | Professor, University Paris 1 Panthéon-Sorbonne |
Philipp Censkowsky | Consultant Perspectives Climate Group |
Hugues Chenet | Honorary Senior Research Fellow, University College London |
Young-jin Choi | Impact Investing Advisory @ Phineo gAG |
Linda Claas | Prozessmanagerin, Bank für Sozialwirtschaft |
Patrick Claerhout | Manager bij Ethisch Beleggen |
Anna Colucci | Transformation manager global sustainability - Fresenius Medical Care |
Philipp Coser | Process manager, Südtiroler Volksbank AG |
Miriam Dahlke | MdL Hessen |
Daniel Dahm | United Sustainability Group |
Saba Dar | Water Expert, WWF-Germany |
Christian Dauer | Supply Chain Manager |
Nathan de Arriba-Sellier | Researcher in EU Sustainable Finance Law, Erasmus University Rotterdam & Leiden University |
Hein Denneboom | HD-Consult |
Mathias Deppert | Privatanleger von nachhaltigen ETF |
Christoph Deutschmann | Universität Tübingen |
Ricarda Dill | Selbstständige Unternehmerin |
Arne Dilling | Aktuar im Risikomanagement |
Hans-Peter Dohr | Anlageberatung und -vermittlung für inst. Investoren - Veranstalter des Sustainable Investor Summits |
Nicole Dr Rudner | Consultant |
Philip Dr. Bacher | Senior Director, Geschäftsleitung, AlixPartners GmbH |
Ruth Dr. Joachimi | Managerin, d-fine GmbH |
Andreas Dr. Kiefer | Selbstständiger Unternehmensberater |
Bernd-Peter Dr. Lange | Professor für Sozioökonomie |
Wolfgang Dr. Rühle | Senior-Expert TMG Technologie Management Gruppe |
Johann Drexler | Wirtschaftsbüro Drexler e.K. |
Gabriele Dumeier | Vorstand Karibu Weltladen Kassel eG |
Markus Duscha | Fair Finance Institute, Heidelberg, Germany |
Armin Eberhardt | Finanzberater, LKM-GmbH, Mitglied ökofinanz-21 e.V. |
Roland Eckert | Prof. |
Shirin Engel | Consultant Sustainable Finance, PwC |
Wolfgang Etrich | Vorstand Volksbank Delmenhorst Schierbrok eG |
Eleonora Evi | Member of the European Parliament |
Christian Faust | Unternehmensberater |
Oliver Fischer | Arete Ethik Invest AG |
Daniela Fischer | divest ulm, Initiative für nachhaltige Geldanlagen |
Doerte Fouquet | Lawyer, Partner of Counsel, BBH law firm |
Francesca Fraulo | Partner, SustainAdvisory |
Nina Freudenberg | Impact Director, Golding Capital Partners |
Melanie Frohmader | Senior Financial Manager, Siemens Energy |
Eva M. Fuchs | Senior Manager & Prokuristin, DEG - Deutsche Investitions- und Entwicklungsgesellschaft mbH |
Hans-Georg Funke | Vorstandsmitglied VB Anröchte eG |
Philippe Youssef Garduño Diaz | Manager, Sustainable Finance |
Jörg Geier | Mitglied, Club of Rome |
Irene Gorski-Scarbart | Vorsitzende Haus & Grund Naumburg u. U. e. V. |
Sara Göttlicher | Buchhalterin |
Bernhard Graeber | Managing Director, EB Sustainable Investment Management |
Thomas Grimm | grimm Vermögensberatung - Gemeinwohlfinanzen |
Josef Grünbichler | CEO Toolmaker Advanced Efficiency GmbH |
Helmut Grundner | Vorstandsvorsitzender Sparkasse BGL |
Maria Gubisch | EhtFaiN |
Jörg Haas | Head of Division International Politics |
Nikolaus Hagedorn | Acting Head of Evidence for Impact @ 2° Investing Initiative |
Wilfried Halboth | Berater, Fiducia & GAD IT AG |
Jürgen Halfkath | Akteur*innen im Sustainable Finance |
Karoline Hallmeyer | PwC, Managerin, Sustainability Services |
Frank Hansen | Privatier, Personal Asset Management |
MartinmbH Harder | Founder/Chairman Praesta GmbH |
Michael Heckel | Asset Management |
Florian Heilbronner | Prokurist Handolfo Gmbh- Green Investments and Cultural Herritage |
Lennard Heine | Dualer Student Finanzberatung |
Sandra Heintz | DZ Privatbank, Data Analyst |
Dieter Herrmann | Finance Manager |
Prof. Dr. Werner Hillebrand | Hochschullehrer |
Jutta Hinrichs | Head of Ethics & Sustainability, Pax-Bank |
Rainer Hinrichs-Rahlwes | Vorstandsmitglied Bundesverband Erneuerbare Energie |
Max Höing | Commerzbank |
E. Holstiege | Investmentberater |
Peter Horenburg | CritSit-Manager, Vonovia SE |
Axel Horn | Inhaber Ing.-Büro solar energie information |
Andreas Höß | €uro Magazin |
Kevin Hottinger | Engineer, WR Grace |
Hans-Florian Hoyer | Pensionierter GLS-Banker |
Alexander Huber | Steuerberater - plietsch-steuerberatung.de |
Horst Huber | Versicherungsmakler |
Anja Hübner | Dipl.-Kffr., Dozentin für Controlling u. Finanzkennzahlen |
jean-jacques Itasse | Grüner Gockel Evang. Kirche |
Julia Jaspers | Mitgründerin, PeerSchool for Sustainable Development |
Werner Jesusek | Bankkaufmann |
Thomas Jorberg | Vorstandssprecher GLS Bank eG |
Ulrike Jordan | apl. Professorin, Institut für Thermische Energietechnik, Universität Kassel |
Saskia Juretzek | Senior Sustainability Manager |
Aki Kachi | Policy Analyst, NewClimate Insittute gGmbH |
Cornelia Kammerlander | Finanzberaterin selbständig |
Dirk Kannacher | Vorstand GLS Bank |
Paul Karbowski | Kreditanalyst Sparkasse UnnaKamen |
Walter Kern | Inhaber, kern-finanzplanung |
Karl Kerschgens | Kommanditist KWA |
Ulf Kilian | BioIngTeam |
Claudia Kister | Risk Management, Deutsche Bank |
Michael Klanck | Berater, beraTeam Unternehmensberatung |
Eva Kleifgen | Wissenschaftlerin am IAB Nürnberg |
Adolf Kloke-Lesch | SDSN Germany; Executive Director |
Martin Klose | Vertriebsleiter fairzinsung.com |
Kolja Klose | Geschäftsführer , Wertea GmbH & Co KG |
Stefan Klotz | Unternehmer: Grüne Welt GmbH, Asset Impact GmbH, vif-klotz consulting |
Kurt Klusch | Nachhaltigkeitsberater |
Johannes Kluth | Geschäftsführer, Bürgerwindpark, Lehrer |
Herbert Kluth | Geschäftsführer |
Ansgar Knoch | Hapag-Lloyd Cruises |
Martin Koch | Berater, Qualitates GmbH |
Hilko Koch | senior consultant |
Olaf Koester | Nachhaltige Finanzberatung |
Peter Koll | Unternehmensberatung |
Jan-Willem König | Impact Investor @ Polestar Capital |
Harald König | Wirtschaftsprüfer |
Christian Kopf | Chief Investment Officer Fixed Income (signed in personal capacity) |
Jan Köpper | Leitung Stabsstelle Wirkungstransparenz & Nachhaltigkeit |
Helena Kraemer | Fachberaterin für nachhaltiges Investment |
Mirko Kraft | Professur für Versicherungsbetriebslehre, Hochschule Coburg |
Gregor Krämer | Professor für Banken, Finanzen und Rechnungslegung, Alanus Hochschule |
Silvie Kreibiehl | Vorstandsvorsitzende Germanwatch e.V. |
Erwin Dr. Kreim | Investor, Consultant |
Jochen Krimphoff | Senior specialist, sustainable finance, former member of the EC-mandated Technical Expert Group on Sustainable Finance (TEG) |
Matthias Kroll | Chief Economist, World Future Council |
Michael Kühnauer | Vermögensverwalter Geschäftsführer |
Antje Kunstmann | Verlegerin |
Jakob Kunzlmann | Project Manager, Bertelsmann Stiftung |
Kęstutis Kupšys | Member, The European Economic and Social Committee |
Thomas Ladwig | Aktionär in 2 etablierten Sustainability Fonds |
Rainer Lang | Bankvorstand |
Berthold Lange | Vorstand |
Claas Langner | Senior Manager Sustainability, KfW DEG |
Anja Lansberg | Förderbank |
Dieter Lehmkuhl | KLUG e.V., Deutsche Allianz Klimawandel und Gesundheit, AG Divestment |
Marcel Leistenschneider | Sustainable Finance, Sustainalytics |
André Leonhardt | Erzgebirgssparkasse, Bereichsleiter Vorstandsstab |
Annegret Lewak | Entrepreneur LEWAK greenprojects GmbH |
Jan-Martin Lichte | selbständiger Unternehmensberater |
Ulrich Liebl | Unternehmensberatung |
Hans-Georg Lindic | Qualitätsmanagement, OBI |
Dirk Linke | Project Lead ESG Risiken, DZ BANK |
Luiza Linton | Consultant Sustainable Finance, PWC |
Karsten Löffler | Head Frankfurt School UNEP Collaborating Centre for Climate & Sustainable Energy Finance |
Arnold Löffler | MM-Office Freiburg GmbH |
Ulrike Lohr | Wissenschaftliche Mitarbeiterin nachhaltige Geldanlagen. SÜDWIND-Institut |
Kirill Lorenz | Interact Lab |
Santiago Lorenzo | Head of Sustainable Finance - CAN International |
Elisabeth Löwenbourg-Brzezinski | PE/VC Investment Managerin |
Elisabeth Löwenbourg-Brzezinski | Finanz- und Wirtschaftsexpertin und Bundestagskandidatin für Bündnis90/Die Grünen |
Walther Lückemann | Geschäftsführer paibosoft GmbH |
Olaf Luckow | stv. Compliance-Beauftragter Berliner Volksbank eG |
Peter Lüders-Bahlmann | Ökologische Finanzberatung Nord |
Thomas Mack | Consultance |
Christine Majowski | Beraterin Sustainable Finance, GIZ |
Dr. Marcel Malmendier | Vorstand ökofinanz-21 e.V., Geschäftsführer Qualitates GmbH, Geschäftsführer Investmentkontor RheinRuhr GmbH |
Andreas Mankel | Erneuerbare Energien Projektentwickler |
Thomas Marschall | Gesellschafter Asset Impact GmbH |
Brick Medak | E3G |
Laura Mervelskemper | Leitung Stabsstelle Wirkungstransparenz & Nachhaltigkeit |
Sigrid Metz-Goeckel | Stiftung Aufmüpfige Frauen |
Christian Metzler | Analyst, Finance Programme, adelphi |
Thomas Meyer | Vorstandsmitglied, EthikBank eG |
Jo Miosga | Mitarbeiter Finanzinstitut |
Thomas Mog | Green Sustainable Finance Cluster Germany |
Sarah Mühlenbäumer | Bäckerei Kreis e.K. |
Thomas Müller | Inhaber |
Andrew Murphy | Murphy&Spitz Nachhaltige Vermögensverwaltung, Vorstand |
Anna Ndichia | DEG |
Georg Nicklas | Man.Dir. |
Ville Niinistö | MEP |
Dr. Andreas Nilsson | Managing Director/Head of Impact, Golding Capital Partners |
Georg Nitsche | Solarstrom Nitsche-Lenhardt GbR |
Aleksandra Novikova | Energy Efficiency and Climate Finance, Institute for Climate Protection, Energy and Mobility |
Angelika Oberländer | private Anlegerin in Sustainable-Aktienfonds |
Tatiana Ockenden | Compliance |
Tatiana Ockenden | Compliance |
Janosch Ondraczek | Ökonomom bei einer europäischen Entwicklungsbank |
Christina Opitz | Vorständin GLS Bank eG |
Ferdinand Ort | Germanzero |
Aysel Osmanoglu | Vorständin GLS Bank eG |
Milena Ostrower | Policy Advisor Sustainable Finance, Germanwatch |
Johannes Palm | Business Development, Enabling Qapital AG |
Ari Pankiewicz | Head Sustainability Services, d-fine GmbH |
Dr. Stefan Parhofer | Chief Investment Officer, Smartenergy Invest AG |
felix reinhard Paulesich | Wirtschaftsuniversität Wien |
Lisa Paus | MdB |
Piernicola PEDICINI | MEP |
Roland Pérez | Université Montpellier - MRM |
Ralf Petit | Ralf Petit Nachhaltige Anlageberatung |
Bernd Pfitzner | CSF-Advisor |
Tommy Piemonte | Leiter Nachhaltigkeitsresearch |
Fritz Pieper | Inhaber SinnGewinn Finanzplanung |
Daniel Pöhle | Bereichsleiter, DB Netz AG |
Swen Poloczek | Landesförderbank |
Volker Potthoff | Managing Partner ADDWIS, CEO aktion luftsprung foundation |
Walter Privitera | Professor Università di Milano-Bicocca |
Georg Prüfer-Schönfelder | Mitglied "Finanzwende" |
Erhard Radatz | Senior Portfolio Manager in an international Asset Management Company |
Tobias Raffel | Geschäftsführer Werte-Stiftung |
Dr. Richard Ralfs | CEO Ralfs & Ralfs GbR |
Bernhard Rathgeber | Vorstand ökofinanz-21 e.V. |
Daniel Regensburger | Geschäftsführer Pangaea Life |
Daniel Reichert-Facilides | Rechtsanwalt, Attorney-at-law (New York) |
Jörg Reinbrecht | Ver.di Vereinte Dienstleistungsgewerkschaft Leiter Finanzdienstleistungen Niedersachsen-Bremen |
Otto Reiners | Stellv. Abteilungsleitung Rechnungsprüfung |
Johannes, Dr. Reintjes | Sparkassenverband Bayern, i. R. |
Reimund Rieger | QC-Quality Control GmbH |
Bruno Ristok | C&S Computer und Software GmbH |
Winfried Roggenbuck | Berater |
Uwe Rohse | Geschäftsführer, Rohse Vermögensmanagement GmbH |
Dr. Markus Rösler | Landtagsabgeordneter |
Andreas Roth | Nachhaltige Finanzberatung |
Leonie Routil | Climate Finance Consultant |
Kilian Rüfer | Initiative für nachhaltiges Investieren |
Nina Ruffani | GZD/Analystin Verbauchsteuern |
Werner Rützenhoff | Vorsitzender regen.ev |
David Ryfisch | Teamleiter Internationale Klimapolitik, Germanwatch |
Riccardo Sallustio | LUISS Guido Carli University |
Saskia Sanchez Buitrago | Inhaberin The Travelling Mind |
Wolfgang Sauer | Beauftragter Nachhaltigkeit der Sparkasse Bad Neustadt a. d. Saale |
Ludwig Sauer | Consultant |
oliver schad | Risk Manager |
Paul-Heinrich Schade | Einzelperson |
Michael Scheidgen | Finanzportfolioverwaltung § 32 KWG |
Ingo Scheulen | Ökologische Finanzdienstleistungen e.K. |
Michael Schier | Sustainable Finance, Manager Bank für Sozialwirtschaft AG |
Nadja Schiller | Inhaberin Finanzideen Berlin GmbH |
Martin Schindehütte | Bischof iR, Internationale Beziehungen der Evangelische Kirche in Deutschland, Entwicklungszusammenarbeit |
Boris Schinke | Sachverständiger KfW |
Wolfgang J. Schmelz | Rentner/Pensionär,ehemals Mitglied des AR der Commerzbank AG, Gesamtbetriebsrat, Vors. Wirtschaftsausschuß der CB, BR-Vors. der CB-Zentrale in Ffm, Tarif,- und Verhandlungskommission der Gewerkschaft HBV und später Verdi und vieles mehr |
Jan-Lukas Schmitt | Finanzredakteur |
Sandra Schneeloch | Finanzpolitische Sprecherin Fraktion B90/DIE GRÜNEN im Rat der Stadt Köln |
Ralph Schneider | Wissenschaftlicher Mitarbeiter am Lehrstuhl für Banken, Finanzen und Rechnungslegung, Alanus Hochschule |
Hildegard Schönherr-Nichols | Diplom-Volkswirtin, Kleinanlegerin |
Otto Schrägle | Vorstandsmitglied der Katholischen-Arbeitnehmer-Bewegung, |
Helmut Schulte | Betreiber von regionalen Energienetzen |
Alison Schultz | Universität Mannheim |
Bernhard Schulz | Sonnenwende statt Klimawandel GmbH & Co. KG |
Bernhard Schulz | CERES -CERtification of Environmental Standards GmbH |
Bernhard Schulz | Sonnenwende statt Klimawandel GmbH & Co. KG |
Thomas Schupp | Caremo Versicherungsmakler |
Steffen Schürkens | FWS Freiburg Rieselfeld |
Georg Schürmann | Geschäftsleiter, Triodos Bank N.V. Deutschland |
Nina Schwab | DWS |
Peter Schwab | VR Bank Starnberg |
Magdalena Senn | Referentin Sustainable Finance, Finanzwende |
niklas sieber | indipendant Transport Economist |
Daniela Simpson | Sustainability Consultant |
Grahm SolarZentrum | Grahm GmbH |
Anne-Monika Spallek | Gestüt Gerleve |
Philipp Spitz | Murphy&Spitz Green Energy AG |
Felix Steinberg | GIZ |
Ernst-Christoph Stolper | Staatssekretär a.D. im Wirtschaftsministerium Rheinland-Pfalz |
Lorenz Stör | Head of Climate Analytics, ISS ESG |
Rainer Stracke | Consulting Wood Technology |
Nadine Strauß | Marie Curie Fellow |
Silke Stremlau | Vorstand Hannoversche Kassen |
Thomas Streuer-de Haan | Finanzplanung Streuer - Strategieberater einer Nachhaltigen Vermögensverwaltung |
Martin Ströter | Hütte Ströter |
Niko Stumpfögger | stv. Aufsichtsratsvorsitzender (Arbeitnehmerseite<) Fresenius SE & Co. KGaA bis April 2020 |
Alexander Sucquet | Compliance Officer, Münchner Bank eG |
Ute Sudmann | Senior Manager Sustainability DEG/KfW |
Marc Szuppa | KYC Business Governance, Deutsche Bank AG |
Irmgard Teske | Professorin RWU |
Michael Troege | Professor of Finance |
Petra Tute | Nachhaltigkeitsmanagement der Sparkasse Hannover |
Jörg Unger | Dipl-Betriebswrt |
Mechthild Upgang | Dr. Upgang AG |
Janina Urban | Netzwerk Plurale Ökonomik |
Ernest Urtasun | MEP |
Jens van 't Klooster | Postdoctoral researcher, KU Leuven |
Wout Van Caimere | EP |
Daan Van Kassel | Investment Manager - Polestar Capital |
Rens van Tilburg | Director Sustainable Finance Lab |
Jürgen Vogel | Unternehmer |
Gesa Vögele | CRIC e.V. |
Harro Von Lieres | Von Lieres und Wilkau PIC |
Wolf Wagner | Inhaber Elefanten Apotheke Moers |
Stephan Wahl | Mitarbeiter Großbank, besorgter Familienvater |
isidor wallimann | Soziale Ökonomie Basel |
Joachim Wardenga | Joachim Wardenga Bankberatung, Inhaber |
Roland Weber | Privat Investor; POPs Env. Consulting |
Claudia Wecken | Leiterin nachhaltige Altersvorsorge VCD Service GmbH |
Regina Weihrauch | Versicherungsmaklerin |
Mario Weiss | Managing Director, ICF Institutional Capital Forum |
Christian Werner | Professor |
Manfred Westermayer | NFA Naturfaser AG, Vorstand |
Petra Weth | Betriebswirtin |
Walter Wicke | WSO Dortmund GbR |
Andreas Wietholz | framtid Finanz- und Versicherungsmakler GmbH |
Birgit Wilkens | Finanzwende |
Elvira Wolff | Privatanleger nachhaltige ETFs |
Joscha Wullweber | Professor for Politics, Transformation and Sustainability an der Universität Witten/Herdecke |
Helge Wulsdorf | Nachhaltige Geldanlagen |
Jörg Zimmermann | stv. Teamleiter Marktservice OSV |
Marvin Zornig | Anue Education Solutions GmbH, Geschäftsführer |
Yvonne Zwick | Vorsitzende, B.A.U.M. e.V. |
Michael Zybarth | Consultant, Scrum Master |
Sponsored by
To:
EU-Comissioner McGuinness, Vice-President of the EU-Commission Dombrovskis
From:
[Your Name]
Dear Commissioner McGuinness,
Dear Vice-President Dombrovskis,
We are writing to you today as providers, investors and other professional stakeholders in the Sustainable Finance sector. In these weeks, the European Commission, in close consultation with the Member States, will decide on the precise rules (“delegated acts”) for implementing the taxonomy of sustainable finance.
We welcome the EU Commission's aim to develop the European Union into a leading market for sustainable finance. The Sustainable Finance Strategy will support the EU in becoming the first greenhouse gas neutral continent. At the same time, it will provide an impetus for ecological innovation in our economies and support the sustainable transformation of value chains. In order to leverage this great potential for our businesses, clear rules are essential as to what counts as Sustainable Finance and can be marketed as such and what cannot.
Here, the classification system ("taxonomy") is crucial for the future of our Sustainable Finance sector. If investments are labelled as sustainable when in fact they are not, this will jeopardise the credibility of this growing market and will have a negative impact on the attractiveness of the EU as a green business and finance hub.
We are therefore very concerned that EU member states are pushing to deviate from the science-based recommendations of the Technical Expert Group on Sustainable Finance (TEG) on key issues. Under no circumstances should conventional gas-fired power plants or related infrastructure be counted as a greenhouse gas mitigation measure or an adaptation measure. It would therefore be wrong to raise the threshold values of 100 g CO2/kWh and 262 g CO2/kWh against the recommendations made by the expert group.
Weakening the thresholds in one area also risks setting a precedent for all other critical areas of the taxonomy. Thus, investments in nuclear energy and in unsustainable forms of forestry should not be considered "sustainable" either.
The taxonomy is the backbone of the European Union's efforts to build and expand sustainable and thus future-proof financial structures. It is completely unsuitable for symbolic politics between national interests. There is a misunderstanding that needs to be cleared up:
Sustainable Finance stands for transparency and transformation, it is not about prohibiting certain investments. Sustainable Finance alone will not prevent any country from investing in understandably highly controversial projects such as the construction of new gas-fired or nuclear power plants and their infrastructure, or in destructive forest management. But if such investments are labelled as sustainable, the credibility and growth capacity of Europe as a forerunner in sustainable finance is gone. Important initiatives such as the EU Green Bonds Standard and the EU consumer label for sustainable finance will then no longer be in demand in keymarkets and will thus not be able to establish themselves.
Therefore, we appeal to you, Commissioner McGuinness and Vice-President Dombrovskis, not to give in to the pressure of individual states and their respective special interests. It is for you alone, as the Commission, to decide which standards you will propose from mid-April. The lowest common denominator among the Member States would be the worst possible future for Sustainable Finance.
Together with many others, we want to help the European Green Deal achieve a breakthrough. This requires success stories like the fast-growing Sustainable Finance sector. Strengthen our sector with clear rules that strengthen our credibility - instead of jeopardising it.
Yours sincerely
Sven Giegold, MEP
Kristina Jeromin
Bas Eickhout, MEP
More signatories will be added regularly. We sign this declaration as individuals with a professional role in sustainable finance. The selected signatures below do not bind the respective organisation or company.
- see above -