Brussels changes rules to boost Paris-congruent financial products & disclose climate risk of others

c. €180bn p.a. of new investment will be needed until 2030 to hit EU share of Paris targets. Changes in the Commission’s proposals include green labels. Axa is a driving force behind this.

Valdis Dombrovskis, EC vice-president overseeing financial services and former prime minister of Latvia: “time is running out (to respond to the threat of climate change). The Titanic could not turn to avoid the iceberg at the last minute. We will soon be in a very similar situation.

Image: FT

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