Sustainable Growth in the European Framework and the Role of Finance

Lucia Alessi, Claudia Guagliano (), Nadia Linciano () and Paola Soccorso ()
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Claudia Guagliano: European Securities and Markets Authority
Nadia Linciano: Commissione Nazionale per le Società e la Borsa
Paola Soccorso: Commissione Nazionale per le Società e la Borsa

Chapter Chapter 2 in Information as a Driver of Sustainable Finance, 2022, pp 7-38 from Palgrave Macmillan

Abstract: Abstract Finance has been increasingly acknowledged as key to sustainable development as it can efficiently and effectively channel resources towards sustainable activities. However, conditions for this to happen are not met yet. Lack of homogeneity in terminology and definitions translates into lack of comparability of sustainability-related disclosures and investment options. The assessment of non-financial risks and performances is impaired by little sustainability-related information. Metrics and analytical tools such as scenario analysis are still underdeveloped. Short-termism underpinning preferences and choices of economic agents hinder integration of sustainability into decision-making processes. The ambitious program of reforms undertaken by the European Union also with respect to financial legislation aims to address the above-mentioned issues and promotes a new conceptual framework enabling the development of sustainable finance.

Date: 2022
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DOI: 10.1007/978-3-030-93768-3_2

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