Green and Sustainable Finance Cluster Germany e.V.
The SFC’s report presents us with a historic opportunity. It lays the foundation for a viable financial system that can function as the central pillar for creating economic value in a long-term, competitive fashion. The German government now has an obligation to take action quickly.
The recommendations are the starting point for the actual implementation. Germany’s federal government must play a central role here, by creating the necessary frameworks and incentives, and setting the right example in this area. The financial system must be geared towards enabling a successful macroeconomic transformation.
A just transition for society as a whole is a fundamental prerequisite for the success of the transformation. This must be the standard by which we measure both public and private investments. A Transformation and Impact Fund would be an effective tool in smoothing the way for the transformation.
There was much ado about the Final Report – and the results have lived up to expectations. I am very proud of that. Now it is up to the German government to make the most of the report and translate it into specific policies. This would boost our global competitiveness.