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Financial markets Launch of the Zukunftsfonds
The German federal government is providing an additional €10 billion for an equity fund for technologies of the future (Zukunftsfonds, or “Future Fund”). The fund will primarily benefit start-ups in the growth phase with high capital requirements. Today, former Federal Minister of Finance Olaf Scholz and Federal Minister for Economic Affairs Peter Altmaier have tasked KfW with the execution and …
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Financial markets More “bite” for the Financial Supervisory Authority
Former German Finance Minister Olaf Scholz wants to reform the Federal Financial Supervisory Authority (BaFin) fundamentally to make it more flexible and effective. In particular, BaFin will be given the authority to focus more heavily on preventive action and investigate suspicious cases more swiftly and efficiently as part of financial reporting enforcement.
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Financial markets Combating financial reporting fraud and strengthening controls over financial markets
Listed companies need to be more stringently controlled. On 7 October, the Federal Ministry of Finance presented the federal cabinet with an action plan to combat financial reporting fraud and to strengthen controls over capital and financial markets, which it drafted in cooperation with the Federal Ministry of Justice and Consumer Protection. Draft legislation will be presented shortly with the …
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Climate action European Sustainable Finance Summit
As the European Sustainable Finance Summit gets underway, German Finance Minister Olaf Scholz and Environment Minister Svenja Schulze are calling on European companies to invest more in sustainable economic activities. The first survey, published today, on applying the EU taxonomy shows that just 2% of companies’ activities by revenue meet the taxonomy’s level of ambition for climate action and …
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Climate action Germany to issue Green German Federal Securities from 2020
The Federal Republic of Germany is publishing its first framework for Green German Federal Securities today. The aim of these securities is to make Germany’s “green” budget spending transparent while also strengthening the country’s position in the area of sustainable finance. As a benchmark issuer for the euro area, the German federal government will offer different maturities, establish a …
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Financial markets Sustainable finance
The COVID-19 pandemic and climate change highlight how important the United Nations’ 17 Sustainable Development Goals (SDGs) are to economic growth and financial market stability. SDG 3 aims to ensure healthy lives for all, while SDG 13 focuses on climate action.
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Coronavirus Large-scale federal assistance to protect businesses and jobs
German government activates the Economic Stabilisation Fund
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Financial markets Developing the Capital Markets Union
Olaf Scholz, former German Finance Minister, Wopke Hoekstra, Minister of Finance of the Netherlands and Bruno Le Maire, Minister of Economy and Finance of France, received the “Savings and Sustainable Investment Union” report by the Next Capital Markets Union High-Level Group on 9 October 2019. They thanked the Next CMU Group for their high-quality work and welcome the ambitious recommendations …
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Financial markets German government adopts blockchain strategy
The German government has adopted a new blockchain strategy. This makes Germany one of the first countries to unveil a blueprint for taking advantage of the opportunities that blockchain technology offers and for harnessing its potential to advance digital transformation. It is one of the mostly widely discussed digital innovations that are currently transforming economies and societies.
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Financial markets German government adopts blockchain strategy
The federal cabinet today adopted a comprehensive blockchain strategy developed by the Federal Ministry for Economic Affairs and Energy (BMWi) and the Federal Ministry of Finance (BMF) in consultation with other ministries.