EU, China and others team up to coordinate 'green' investment | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Monday
July 07, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
MONDAY, JULY 07, 2025
EU, China and others team up to coordinate 'green' investment

Global Economy

Reuters
19 October, 2019, 12:20 pm
Last modified: 19 October, 2019, 12:47 pm

Related News

  • Policy and investment need to prioritise renewable energy
  • Truvalu roundtable focuses on green finance for women-led SMEs
  • Roles of banking industry to promote Green Finance
  • Green finance rises 127% in Dec quarter
  • France keen on meeting Bangladesh's needs for green investments: AFD executive director

EU, China and others team up to coordinate 'green' investment

Its aim is not to raise money, but to harmonize rules on what is sustainable, or “green” investment, across the world so that private capital can flow into it more freely

Reuters
19 October, 2019, 12:20 pm
Last modified: 19 October, 2019, 12:47 pm
French Minister for Ecology, Sustainable Development and Energy Segolene Royal (L) and Finance Minister Michel Sapin attend a news conference to introduce France's first state green bond in Paris, France, January 3, 2017/ Reuters
French Minister for Ecology, Sustainable Development and Energy Segolene Royal (L) and Finance Minister Michel Sapin attend a news conference to introduce France's first state green bond in Paris, France, January 3, 2017/ Reuters

The European Union, China, India and several other countries teamed up on Friday to coordinate rules and standards for trillions of dollars of private and public "green" investment needed over decades to prevent irreversible climate change.

The initiative called the International Platform on Sustainable Finance (IPSF), also involves Argentina, Chile, Canada, Kenya and Morocco - a group responsible for 44% of the world's GDP and the same amount of carbon dioxide emissions.

Its aim is not to raise money, but to harmonize rules on what is sustainable, or "green" investment, across the world so that private capital can flow into it more freely.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

"To deal with climate change Europe can only do so much because Europe generates only around 9% of emissions," European Commission Vice President Valdis Dombrovskis told Reuters on the sidelines of International Monetary Fund meetings in Washington where the initiative was launched.

"While public funding will be vital for the transition, it cannot pay the massive bill alone. We also have to tap into private capital to raise the trillions needed," he said.

"No national budget can pay for that on its own. Nor should it. Countries should link their sustainable financing needs to global financial markets to scale up green investment at the level that the world needs," he said.

The European Union's executive arm, the European Commission, in June sought to boost the flow of private money to tackle climate change by publishing guidelines on what qualifies as an environmentally friendly investment.

But China and some others also have their own rules on that, which shows the need for a joint initiative to keep them harmonized to avoid market fragmentation, Dombrovskis said.

The European Union has agreed to substantial reductions of carbon emissions by 2030 and the Commission wants the bloc to reduce them to zero by 2050 to help stop global warming, the rise of average worldwide temperatures.

To cut emissions by 2030, many sectors of the economy, such as manufacturing, agriculture and energy, require an extra annual investment of between 180 and 290 billion euros and even more is needed to achieve zero emissions by 2050.

"We need to have the international community on board and that is why we are launching the international platform for sustainable finance to exchange best practices, to coordinate our approach," Dombrovskis said.

The United States, the world's biggest economy which is also second biggest in terms of CO2 emissions after China, was conspicuously absent from the initiative as President Donald Trump maintains that global warming is a "hoax."

"The US it is not among the founding members, but we see lots of interest from US states, from the industry, from the financial sector," Dombrovskis said.

World+Biz / Top News

Green finance / Green investment

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Youths believe BNP will get 39% votes, Jamaat 21%, NCP 16% in national polls: Survey
    Youths believe BNP will get 39% votes, Jamaat 21%, NCP 16% in national polls: Survey
  • Illustration: TBS
    71% of youths say mob justice increasingly affecting daily life: Sanem survey
  • Photo: TBS
    Bangladesh's population hits 175.7 million, majority in working-age group: UNFPA

MOST VIEWED

  • Ships and shipping containers are pictured at the port of Long Beach in Long Beach, California, US, 30 January 2019. Photo: REUTERS
    Bangladesh may offer zero-duty on US goods to get reciprocal tariff relief
  • A quieter scene at Dhaka University’s central library on 29 June, with seats still unfilled—unlike earlier this year, when the space was overwhelmed by crowds of job aspirants preparing for competitive exams. Photo: Tahmidul Alam Jaeef
    No more long queues at DU Central Library. What changed?
  • Labour unrests disrupt CEPZ operations as financial crisis hits factories
    Labour unrests disrupt CEPZ operations as financial crisis hits factories
  • Infographic: TBS
    Japanese loan rate hits record 2%, still remains cheaper than others
  • Students during a protest procession seeking end of discrimination in engineering jobs in Chattogram on 5 July 2025. Photo: TBS
    Ctg students protest against discrimination in engineering profession
  • Benapole port: Revenue exceeds target by Tk316cr while imports decline
    Benapole port: Revenue exceeds target by Tk316cr while imports decline

Related News

  • Policy and investment need to prioritise renewable energy
  • Truvalu roundtable focuses on green finance for women-led SMEs
  • Roles of banking industry to promote Green Finance
  • Green finance rises 127% in Dec quarter
  • France keen on meeting Bangladesh's needs for green investments: AFD executive director

Features

The Mitsubishi Xpander is built with families in mind, ready to handle the daily carpool, grocery runs, weekend getaways, and everything in between. PHOTO: Akif Hamid

Now made-in-Bangladesh: 2025 Mitsubishi Xpander

15h | Wheels
Students of different institutions protest demanding the reinstatement of the 2018 circular cancelling quotas in recruitment in government jobs. Photo: Mehedi Hasan

5 July 2024: Students announce class boycott amid growing protests

2d | Panorama
Contrary to long-held assumptions, Gen Z isn’t politically clueless — they understand both local and global politics well. Photo: TBS

A misreading of Gen Z’s ‘political disconnect’ set the stage for Hasina’s ouster

2d | Panorama
Graphics: TBS

How courier failures are undermining Bangladesh’s online perishables trade

2d | Panorama

More Videos from TBS

Veteran journalist Shamim Ahmad no more

Veteran journalist Shamim Ahmad no more

47m | TBS Today
Sound grenades used to disperse sacked BDR members

Sound grenades used to disperse sacked BDR members

1h | TBS Today
Did a lack of emergency preparedness lead to disaster in Texas?

Did a lack of emergency preparedness lead to disaster in Texas?

1h | Others
No war crimes committed in July: Sheikh Hasina's lawyer

No war crimes committed in July: Sheikh Hasina's lawyer

2h | TBS Today
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net