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.
Sustainable Finance as an enabler: Regulation and long-term impact analysis must first and foremost empower stakeholders in the transformation. Sustainable finance needs transparent communication, practicability and an understanding of the economic consequences.
As a forward-looking industrial nation, Germany is focussed on the transformation of the real economy and takes a holistic view of sustainable finance. This approach makes Germany stand out from some other financial centres that are geared purely towards financial products.
Dr. Gerald Podobnikpixandstripes2022-07-01T14:57:21+02:00