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Climate action First impact report for Green German Federal securities published
On 20 April 2021, the German government published the first allocation report for its Green Federal securities issued in 2020. The “Green Bond Allocation Report 2020” provides investors with transparent and binding information on expenditures from the federal government’s environmental and climate protection programmes. It lists expenditures recognised as “green” in the 2019 federal budget and …
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Climate action FAQs: Climate Action Programme 2030
Germany has made both national and international commitments to cut its greenhouse gas emissions by more than half by 2030, compared with 1990 levels. To this end, the German government has launched a comprehensive climate package. What are its key elements? How does carbon pricing work? And how much will all of this cost? Here are the answers to these and other important questions.
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Financial markets FATF Ministers commit to take decisive action against money laundering
Under German chairmanship the Ministers of the Financial Action Task Force (FATF) members committed to take swift and decisive action to improve the effectiveness of measures to fight money laundering, terrorist and proliferation financing at their meeting in Washington D.C. today. This includes promptly implementing the FATF’s global beneficial ownership rules, which were strengthened earlier …
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Climate action The German government wants to establish an international climate club
In the federal cabinet today, Germany’s Finance Minister Olaf Scholz presented a joint key-issues paper for an international climate club. The goal is to give the implementation of the Paris Agreement additional impetus at the international level. At the heart of this initiative is the cooperation between countries that want to press ahead with the social and economic transformation needed to …
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Climate action German government’s future-oriented subsidy policy
Das Bundeskabinett hat heute den Bericht der Bundesregierung über die Entwicklung der Finanzhilfen des Bundes und der Steuervergünstigungen für die Jahre 2019 bis 2022 beschlossen. Der 28. Subventionsbericht macht deutlich: Die Subventionspolitik ist zentraler Bestandteil der zukunftsorientierten Finanzpolitik der Bundesregierung. Durch eine klare inhaltliche Schwerpunktsetzung geben die …
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Financial markets Scholz welcomes IMF’s historic decision
German Finance Minister Olaf Scholz commented: “Yesterday evening we decided at the International Monetary Fund, the IMF, to increase what are known as special drawing rights by US$650bn. This is historically unprecedented. It is the right, appropriate response to the Covid-19 pandemic. The new SDRs allow the international community to create additional liquidity and thereby foster the stability …
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Climate action German Sustainable Finance Strategy
Today the federal cabinet adopted the first German Sustainable Finance Strategy. The goal of the strategy is to mobilise investments that are urgently needed for climate action and sustainability while also addressing the climate risks that are increasingly relevant to the financial system. Germany’s Sustainable Finance Strategy is setting a new course in the financial system based on the core …
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Climate action Federal government publishes first allocation report for Green Federal securities
On 20 April 2021, the German government published the first allocation report for its Green Federal securities issued in 2020. The “Green Bond Allocation Report 2020” provides investors with transparent and binding information on expenditures from the federal government’s environmental and climate protection programmes. It lists expenditures recognised as “green” in the 2019 federal budget and …
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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 …