Dec 22 2020, 5:19 PM
December 21 2020, 10:30 AM
December 22 2020, 5:19 PM
(Bloomberg) -- Sweden is fighting a draft European climate measure that it says could harm its world-beating green bond market.
(Bloomberg) -- Sweden is fighting a draft European climate measure that it says could harm its world-beating green bond market.
The European Commission, which wants to steer investors to socially and environmentally sustainable assets, is proposing that only buildings certified as super-energy efficient by national authorities be included in its taxonomy. Being excluded would make financing more expensive.
But national energy requirements differ and since Sweden imposes some of Europeâs toughest, the EUâs framework would ultimately dramatically shrink the pool of Swedish assets that could be funded with green bonds. The Swedish Bankersâ Association says the fallout could leave just 1% of the total eligible, compared with as much as 20% in other countries.