Monday, June 14, 2021
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Financiers join EU ‘green recovery alliance’

CEOs from more than 50 banking and insurance sector companies – among them household names such as BNP Paribas, AXA, Allianz, and Santander – have signed up to the European parliament’s “green recovery alliance”.

Launched last month, the alliance is the initiative of Pascal Canfin, a French centrist MEP who chairs the European Parliament’s committee on environment and public health.

At the time, it included 12 environment ministers, 79 MEPs, 37 CEOs and business associations, as well as environmental groups, trade unions and think tanks.

It can now also boast more than 50 signatories from the world of finance, including AXA, Allianz, BBVA, BNP Paribas Asset Management, Groupama Asset Management, Nordea Life & Pension, PensionDanmakr, and Santander.

“All of these players, including the two largest European insurance companies, three of the largest Spanish and French banks, and European investment funds from 10 European countries, recognise the importance of aligning economic recovery after the coronavirus crisis with the ecological transition in order to save our economy and transform it,” said a statement from the alliance.

“Unlike the 2008 crisis, investors and banks now have a horizon to reinvest in the economy, in line with carbon neutrality by 2050: the Green Deal,” it added.

Read original release here.

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