High costs: Electric vehicles sit parked in bays as they charge at an electric vehicle charging site in Hanover, Germany. To achieve net-zero emissions, an additional 175 billion euros (US$207bil) to 290 billion euros per year will need to be invested on new energy and infrastructure systems, according to the EU. — Bloomberg
EUROPE’S bankers and traders got plenty of slack from their regulators to weather the pandemic. For money managers, it’s a different story.
The investing industry is facing unprecedented demands from officials in Brussels charged with putting the European Union’s policies to counter climate change into practice. Regulations will soon force asset managers to quantify and disclose how much their holdings degrade the environment – through carbon emissions, wastewater release and deforestation.
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