Sweden says EU plan to hit world’s busiest green debt market
Sweden is fighting a draft European climate measure that it says could harm its world-beating green bond market.
Updated: 22/12/2020, 7:54 am
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Sweden is fighting a draft European climate measure that it says could harm its world-beating green bond market.
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.
Dec 12, 2020 14:32 GMTCrypto News
Sweden’s central bank, the Riksbank, joins major central banks considering adoption of digital currency, in a world rapidly moving to cashless transactions, Bloomberg reported, citing a Swedish government review launched on Friday.
The study launched will assess the feasibility of a potential transition to a digital currency and is expected to be completed by the end of November in 2022.
Commenting on the launch of a formal review, Sweden’s Financial Markets Minister Per Bolund said, “it’s crucial that the digitalized payments market functions safely, and that it’s available to everybody.”
“Depending on how a digital currency is designed and which technologies are used, it can have large consequences for the entire financial system,” he added.