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 Full text 
Thursday, 18 April 2019 - Strasbourg Revised edition

Disclosures relating to sustainable investments and sustainability risks (debate)

  Sirpa Pietikäinen, on behalf of the PPE Group. – Mr President, the financial markets are multi—fold compared to the real economy, so it really matters where those financial flows are directed. At this point we have about 30 trillion invested in unsustainable strained assets that are coal-dependent or otherwise climate- or environmentally-risky. But it is good news that we can guide that investment towards those challenges where we very well know what we have in investing for sustainability on combating climate change. We have more than enough money.

The question and the crux of it is the information. That’s why I regard this regulation about these clauses as the mother of all sustainable finance regulations. It is the question how you disclose not only environmentally-friendly actions but the whole impact of your activities in the environment. So it is the negative, it is the positive, it’s everything in between, and it is not only climate but it is all the others, like biodiversity, for example, indirect land use, water consumption and so on, to avoid this kind of palm oil investment crisis.

We have managed to turn the wheel in this direction now, and thank you for my colleagues and negotiation team for all this. And the next step is to broaden the scope, so that it touches the investing companies so that the investors do get the proper information, and that it touches all sizes and types of companies and all levels of the production chain, so we can talk about environmental accounting and that the information needs to be used on decisions on investments.

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