About the Sustainable Finance Committee

In the last legislative term, the German government established the first Sustainable Finance Advisory Council. 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.

The Advisory Council 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 Council for the 20th legislative term is currently being filled and should begin its work in the summer.

Shifting the Trillions – A sustainable financial system to facilitate the great transformation

The Sustainable Finance Committee appointed by the German federal government presents its report with 31 recommendations on how the transformation of the German economy can be financed with a sustainable financial system.

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With the establishment of the Sustainable Finance Committee, the German government is putting the financing of climate and sustainability goals on the agenda. In doing so, it is highlighting their importance for the entire economy and thus for the future-proofing and international competitiveness of Germany as a financial centre.

Karsten Löffler, Chairperson of the Sustainable Finance Committee, 19th legislative term

The composition of the Sustainable Finance 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.

Silke Stremlau, Vice-Chairperson of the Sustainable Finance Committee, 19th legislative term

“On the basis of the recommendations of the Sustainable Finance Advisory Council, the German government will implement a credible sustainable finance strategy with international reach. The Advisory Council is to be continued as an independent and effective body.”

Coalition agreement of the 20th German government

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