“This is the case for strengthening Capital Markets Union and financial integration in a changing environment, calling for disaster risk-proofed investments and more sustainable growth,” he added.

Johannes Luchner, Director, Emergency Management, of the Directorate-General for European Civil Protection and Humanitarian Aid Operations (DG-ECHO) added: “We can do better on investing in prevention because it pays off. It can drive innovation, and drive growth and jobs in a long term perspective.”

Ugo Bassi, Director, Financial Markets, of the EU Directorate-General for Financial Stability, Financial Services and Capital Markets, outlined how the European Commission saw the sustainable finance agenda as one of the most important topics. They are working on how to best support the financial sector to attain sustainable financial stability.

Constance Kann, Director, International Relations and Public Affairs, European Investment Bank (EIB), detailed how DRR is an important financing area for the EIB and that it is inspired by the global plan for reducing disaster losses, the Sendai Framework for Disaster Risk Reduction 2015-2030 and the Sustainable Development Goals  

The importance of public private partnerships was re-iterated across the event, as well as the need to take a multi-stakeholder approach.

The event, hosted by the British Green Party, Member of the European Parliament, Molly Scott Cato, concluded that disaster risk reduction and especially avoiding the creation of future risk is essential to the sustainability of EU finance policy. The European Commission will present a work plan on sustainable finance in the Capital Markets Union on 7 March 2018.

Date:

6 Mar 2018

Sources:

United Nations Office for Disaster Risk Reduction - Regional Office for Europe (UNISDR EUR)

Themes:

Advocacy & Media

Regions:

Europe