Book contents
- The Cambridge Handbook of EU Sustainable Finance
- The Cambridge Handbook of EU Sustainable Finance
- Copyright page
- Contents
- Figures
- Tables
- Contributors
- Preface
- Acknowledgements
- Part I Introduction
- Part II Ethics and Sustainability in Corporate Law, Corporate Governance and Conduct
- Part III Integrating Sustainability in Financial Markets Regulation
- Part IV Ensuring Financial Stability and Sustainability
- 18 Macroprudential Policies and Climate Risks
- 19 Integrating Climate Risk in Banking Regulation
- 20 Prudential Requirements Framework and Sustainability
- 21 Sustainable Finance under EU Law
- 22 Sustainability and Fit and Proper Testing in the Boards of Banks, Insurers and Investment Companies
- 23 Integration of Sustainability Risks and Sustainability Factors in Insurance Regulation
- 24 Sustainability Enforcement through Multilevel Financial Tools
- Part V Financial Innovation and Sustainability
- Index
- References
24 - Sustainability Enforcement through Multilevel Financial Tools
from Part IV - Ensuring Financial Stability and Sustainability
Published online by Cambridge University Press: 30 January 2025
- The Cambridge Handbook of EU Sustainable Finance
- The Cambridge Handbook of EU Sustainable Finance
- Copyright page
- Contents
- Figures
- Tables
- Contributors
- Preface
- Acknowledgements
- Part I Introduction
- Part II Ethics and Sustainability in Corporate Law, Corporate Governance and Conduct
- Part III Integrating Sustainability in Financial Markets Regulation
- Part IV Ensuring Financial Stability and Sustainability
- 18 Macroprudential Policies and Climate Risks
- 19 Integrating Climate Risk in Banking Regulation
- 20 Prudential Requirements Framework and Sustainability
- 21 Sustainable Finance under EU Law
- 22 Sustainability and Fit and Proper Testing in the Boards of Banks, Insurers and Investment Companies
- 23 Integration of Sustainability Risks and Sustainability Factors in Insurance Regulation
- 24 Sustainability Enforcement through Multilevel Financial Tools
- Part V Financial Innovation and Sustainability
- Index
- References
Summary
The care for sustainability is one of the most urgent problems addressed by policy makers. It requires combined effort by multiple players for its efficiency. There are various levels at which different tools of multiple character are being introduced. Eventually, they turn into policies and actions by private businesses and public agencies. These different instruments can be of legislative and regulatory nature introduced on various levels: the UN conventions, communications, policies and protocols, the EU legislation, the Member States, regional and local authorities. As a result, they take a shape of instruments of various types. The range of non-regulatory tools that supplement the regulatory instruments is wide and often takes the form of financial measures. They can be divided into four groups – incentives, tradable instruments, fines and contractual compensations. All these instruments differ in terms of their character, reach and efficiency. Not necessarily being perfect, still, they contribute to the overall re-shift of approach and help transforming the current anxiety for the nature to tangible actions that protect it. The text addresses questions that are not limited to analyses of the efficiency of existing financial tools but also refer to what else could be done to enhance them and make them even more efficient.
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- The Cambridge Handbook of EU Sustainable FinanceRegulation, Supervision and Governance, pp. 622 - 640Publisher: Cambridge University PressPrint publication year: 2025