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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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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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Coronavirus Comprehensive assistance during the coronavirus pandemic
Many companies, self-employed people and freelancers have been affected by closures and major revenue losses due to the coronavirus pandemic. Comprehensive assistance is available to support them.
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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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Coronavirus Emerging from the crisis with full strength
VAT in Germany will be reduced for a temporary period starting on 1 July 2020. The German Bundestag and Bundesrat have passed the Coronavirus Tax Assistance Act, which implements key parts of Germany’s unprecedented stimulus package. On top of the reduced VAT rate, measures include a bonus for families with children as well as extensive tax relief for single parents, businesses and other …
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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 German government adopts more extensive Quick Loan Programme
In light of the challenges posed by the coronavirus crisis, the German government is launching an additional extensive programme to its protective shield for small and medium-sized businesses. Based on the modified Temporary Framework for state aid measures published on 3 April 2020 by the European Commission, the German government is now introducing a comprehensive Quick Loan Programme ( …