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Joachim Goldbeck, Managing Director of Goldbeck Solar and member of the Advisory Board, already sees a need for action.
The crisis caused by COVID-19 poses unprecedented challenges for politics and society. However, the forces and resources mobilized in the short and medium term must not only cushion the economic and social effects of the pandemic, but also have a sustainable impact in order to solve long-term challenges. The Sustainable Finance Advisory Board explains this in its statement from April 2020.
Opportunity for more sustainability
In close coordination with the BMWi, the Sustainable Finance Advisory Board is working to develop Germany into a leading location for sustainable finance. More specifically, the aim is to achieve the sustainability goals of the United Nations and finance the goals of the Paris Climate Agreement. However, due to the social restrictions caused by COVID-19 and the resulting economic losses, there is now a new need for discussion. “Sustainable Finance makes an important contribution to making COVID-19-related economic stimulus programs future-oriented and sustainable,” says Joachim Goldbeck, Managing Director of Goldbeck Solar and member of the Sustainable Finance Advisory Board. “As difficult as the current situation is, it offers a historic opportunity right now to steer the economy towards sustainability. The economic stimulus programs must therefore be in line with the climate neutrality goals of the SDGs, the Paris Climate Agreement and the ambitions of the European Union.”
Advisory board provides concrete proposals
The Sustainable Finance Advisory Board sees the increased issue of green bonds as one way of making the economic recovery sustainable right now. “Taking out green loans would already help to give this segment a decisive boost in Germany,” adds Joachim Goldbeck. Furthermore, the development and reorganization of the necessary framework conditions and the promotion of sustainable projects in industry and infrastructure are also of particular importance. “We need to create sustainable investments and promote developments in a targeted manner, for example in areas such as mobility or energy storage,” says Goldbeck. This creates sustainable jobs and new investment opportunities. The Sustainable Finance Advisory Board also has a concrete proposal with regard to corporate financing. At the moment, this is primarily about avoiding insolvency. Nevertheless, the development loan policy should also be in line with sustainability. Joachim Goldbeck explains: “Meaningful incentives must be created for companies in order to make a sustainable orientation attractive.”
Read the complete statement
The crisis caused by COVID-19 has far-reaching consequences. For the Sustainable Finance Advisory Board, however, it also offers a historic opportunity to drive forward the issues of sustainability and climate change. Read the full statement of the Advisory Board here.