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 to 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 must also be sustainable in order to solve long-term challenges. The Sustainable Finance Advisory Board explains this in its statement of April 2020.
Opportunity for more sustainability
In close cooperation with the BMWi, the Sustainable Finance Advisory Board is working to develop Germany into a leading sustainable finance location. More specifically, the aim is to achieve the sustainability goals of the United Nations and to finance the goals of the Paris Climate Convention. However, due to the social restrictions imposed by COVID-19 and the resulting economic losses, there is now a new need for discussion.
“Sustainable Finance is making an important contribution to making COVID-19-related economic stimulus programmes 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 to steer the economy towards sustainability, especially now. The economic stimulus packages must therefore be in line with the climate-neutrality goals of SDGs, the Paris Climate Agreement and the ambitions of the European Union”.
Advisory Council delivers concrete proposals
The Sustainable Finance Advisory Board sees one way of ensuring that the new start of the economy is already sustainable is to increasingly issue green bonds. “Taking out green loans would already help to give this segment in Germany a decisive boost,” adds Joachim Goldbeck.
Furthermore, the development and redesign of the necessary framework conditions and the promotion of sustainable projects in industry and infrastructure are also of particular importance. “We must create sustainable investments and specifically promote developments, for example in areas such as mobility or energy storage,” said Goldbeck. This creates sustainable jobs and new investment opportunities.
The Sustainable Finance Advisory Board also makes a concrete proposal with regard to corporate financing. At the moment, the main concern here is to avoid insolvency. Nevertheless, subsidised lending policy should also be in line with sustainability. Joachim Goldbeck explains: “Companies must be given sensible incentives to make a sustainable orientation attractive.
Read the complete statement
The crisis caused by COVID-19 has far-reaching consequences. However, for the Sustainable Finance Advisory Board it also offers a historic opportunity to advance the issues of sustainability and climate change. Read the complete statement of the advisory board here.