About the Sustainable Finance Advisory Committee
In the last legislative term, the German government established the first Sustainable Finance Advisory Committee. As set out in the coalition agreement, this advisory board will continue to advise the German government during the 20th legislative term and support it in developing Germany into a leading location for sustainable finance in line with the guiding principle of financial stability and sustainability.
The Advisory Committee operates as an independent and effective multi stakeholder dialog platform with members from the real economy, the financial sector, civil society and academia and advises the German government on the further development and implementation of its sustainable finance strategy. In order to reflect the broadest possible spectrum of knowledge and to ensure optimal advice, the honorary advisory board members are supported by observers.
Within the framework of the German Sustainable Finance Strategy, the financial sector is to contribute to financial market stability and finance the real economic activities necessary to achieve the United Nations’ sustainability goals and the goals of the Paris Climate Agreement. Sustainable Finance also makes an important contribution to strengthening Germany’s competitiveness.
The background to the initial convening is a decision taken by the State Secretaries’ Committee for Sustainable Development on February 25, 2019, at the initiative of the Federal Ministry of Finance (BMF) and the Federal Ministry for the Environment, Nature Conservation and Nuclear Safety (BMU, now BMUV) and in close consultation with the Federal Ministry for Economic Affairs and Energy (BMWi, now BMWK).
The Advisory Committe for the 20th legislative term commenced its work on June 10, 2022 with the constituent meeting. Ms. Silke Stremlau and Mr. Christian Heller were elected by the members as Chairperson and Vice-Chairperson of the Advisory Committee in the 20th legislative term on the proposal of the federal government.
„The composition of the Sustainable Finance Advisory Committee is special, as it includes representatives from the financial sector, the real economy, civil society and science. That is why the Committee is well equipped to provide valuable ideas and act as a critical sparring partner for the federal government to make Germany a leading location for sustainable finance.“
“With the Sustainable Finance Advisory Committee, the German government is sending a clear signal: The transformation and competitiveness of our economy also requires financing – guided by sustainable, transparent criteria. The Advisory Committee is ideally set up to bring in the views of diverse stakeholders, including those linked intersectionally with Europe and with international development, in a constructive and solution-oriented forum.”
“On the basis of the recommendations of the Sustainable Finance Advisory Committee, the German government will implement a credible sustainable finance strategy with international reach. The Advisory Committee is to be continued as an independent and effective body.”
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