Germany is planning a massive green investment drive that would turn Europe’s largest economy into a leading hub for sustainable finance.
Tagged Sustainable Finance Strategy plan, it is intended to target climate protection projects in line.
The plan will be unveiled on Wednesday.
With this plan, Germany will support the European Union becoming carbon neutral by 2050 – a target the European Commission estimates will require 350 billion euros to be invested annually.
The plan also responds to investors demanding more companies complying with environmental, social and governance (ESG) criteria.
To assist investors, the German plan envisages a sustainability “traffic light” system that makes it easier to identify green investment opportunities.