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Position of the German Banking Industry Committee on the EU interim report on sustainable finance: Incentives for investment are appropriate; unnecessary regulation should be avoided

As a general principle, regulatory intervention should be kept to the absolute minimum necessary. Indirect regulation of the real economy by making it mandatory for lenders to take sustainability requirements into consideration, particularly in the area of corporate funding, must not be allowed to inhibit the ability to innovate. And the regulatory requirements – which currently pose a considerable burden on the banking industry – must not become even more onerous. In view of the extensive obligations regarding non-financial reporting recently introduced in connection with the implementation of the Corporate Social Responsibility Directive, the non-financial reporting that will be required as from the 2017 financial year onward should be assessed before any further extension of reporting obligations is considered. 

The German Banking Industry Committee believes that a better approach would be to encourage the market to develop a long-term sustainability mindset through targeted incentives. The Committee unconditionally backs the interim report's finding that greater engagement of the banks in long-term infrastructure finance requires a regulatory framework that remains stable over the long term.

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Bundesverband der deutschen Volksbanken und Raiffeisenbanken e.V. (BVR)
Bundesverband der deutschen Volksbanken und Raiffeisenbanken e.V. (BVR)
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