L’Union des marchés des capitaux n’est pas la solution au financement du Pacte vert

Reclaim Finance contends that the Capital Markets Union (CMU), while promoted by EU leaders as a solution to the investment gap for the European Green Deal, is not inherently a green finance tool. The organization warns that without targeted safeguards and a clear definition of 'green' securitization, the CMU could stimulate investment in high-carbon activities and undermine financial stability by weakening prudential rules.

• The European Union faces a significant investment gap to meet its climate targets, with the European Commission estimating a need for an additional 620 billion euros annually until 2030, while the European Court of Auditors suggests the figure is higher, at one trillion euros per year.
• The current proposal for the Capital Markets Union (CMU) is not a dedicated green finance tool because it lacks mechanisms to steer investments toward sustainable activities and instead focuses on general economic stimulation, which could lead to increased greenhouse gas emissions by supporting polluting industries.
• The CMU may threaten long-term financial stability by proposing the easing of prudential standards and supervision mandates for European banks without accounting for rising climate risks.
• Increased use of securitization under the CMU could facilitate loans to polluting activities and mask emission-related risks unless 'green' securitization is clearly defined to exclude fossil fuel production and ensure funds are exclusively for green activities.

APA

Martin, L. (2024). L’Union des marchés des capitaux n’est pas la solution au financement du Pacte vert. Reclaim Finance. https://reclaimfinance.org/site/2024/10/07/lunion-des-marches-de-capitaux-nest-pas-la-solution-au-financement-du-pacte-vert/

Chicago

Martin, Léo. L’Union des marchés des capitaux n’est pas la solution au financement du Pacte vert. Reclaim Finance, 2024. https://reclaimfinance.org/site/2024/10/07/lunion-des-marches-de-capitaux-nest-pas-la-solution-au-financement-du-pacte-vert/.

Wikipedia

{{cite press release |last1=Martin |first1=Léo |title=L’Union des marchés des capitaux n’est pas la solution au financement du Pacte vert |publisher=Reclaim Finance |date=7 October 2024 |url=https://reclaimfinance.org/site/2024/10/07/lunion-des-marches-de-capitaux-nest-pas-la-solution-au-financement-du-pacte-vert/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{martin2024lunion, author = {Martin, Léo}, title = {{L’Union des marchés des capitaux n’est pas la solution au financement du Pacte vert}}, publisher = {Reclaim Finance}, year = {2024}, month = oct, url = {https://reclaimfinance.org/site/2024/10/07/lunion-des-marches-de-capitaux-nest-pas-la-solution-au-financement-du-pacte-vert/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }