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The Cost of Weakening: Europe’s Risky Retreat from Regulation
In this episode of the Sustainability Omnibus Podcast, brought to you by Green Central Banking, Moriah Costa and Simon Nixon speak with Hans Stegeman, Chief Economist and Group Director for Impact and Economics at Triodos Bank.
Stegeman discusses the need for disclosure rules, and how the proposed limited scope of the CSRD will make reporting more difficult for financial institutions.
As well as delving into the negative implications of the Omnibus package for financial institutions, Stegeman explains how financial institutions are still funding unsustainable activities, believing they will be protected from the risk. Although some reporting requirements are complicated, Stegeman says sustainability rules help on an ethical level to protect people and the environment from harmful externalities. He says Europe is different to the US and therefore must have a different economic model, emphasising the importance of a circular economy and renewable energy to boost European competitiveness.
For Stegeman, sustainable finance regulation should be simpler, but not weaker. He calls for transparent public data, a broader Omnibus scope, and deeper value chain accountability.
Key Topics Discussed:
Why regulation must distinguish between administrative burden and necessary transition costs.
The risk of weakening CSRD and value chain requirements.
Why the EU’s economic model must be competitive through circularity and sustainability.
How the financial sector currently underprices climate risk and over-relies on eventual socialisation of losses, leaving taxpayers to pick up the bill.
Guest
Hans Stegeman, Chief Economist and Group Director for Impact and Economics at Triodos Bank
Resources & Further Reading:
Green Central Banking on the EU Omnibus Proposal
European Commission: Omnibus Proposal Announcement
Triodos Bank, European Commission’s Omnibus proposal weakens sustainability framework
Simon Nixon in Prospect: Business is not against Net Zero
Connect With Us:
Follow Green Central Banking on LinkedIn, Bluesky, and XSubscribe to the Sustainability Omnibus Podcast on Apple Podcasts and SpotifyContact us at: [email protected]
Call to Action:
If you enjoyed this episode, please subscribe and leave us a review!
Learn more about your ad choices. Visit podcastchoices.com/adchoices
View all episodes
By Green Central BankingIn this episode of the Sustainability Omnibus Podcast, brought to you by Green Central Banking, Moriah Costa and Simon Nixon speak with Hans Stegeman, Chief Economist and Group Director for Impact and Economics at Triodos Bank.
Stegeman discusses the need for disclosure rules, and how the proposed limited scope of the CSRD will make reporting more difficult for financial institutions.
As well as delving into the negative implications of the Omnibus package for financial institutions, Stegeman explains how financial institutions are still funding unsustainable activities, believing they will be protected from the risk. Although some reporting requirements are complicated, Stegeman says sustainability rules help on an ethical level to protect people and the environment from harmful externalities. He says Europe is different to the US and therefore must have a different economic model, emphasising the importance of a circular economy and renewable energy to boost European competitiveness.
For Stegeman, sustainable finance regulation should be simpler, but not weaker. He calls for transparent public data, a broader Omnibus scope, and deeper value chain accountability.
Key Topics Discussed:
Why regulation must distinguish between administrative burden and necessary transition costs.
The risk of weakening CSRD and value chain requirements.
Why the EU’s economic model must be competitive through circularity and sustainability.
How the financial sector currently underprices climate risk and over-relies on eventual socialisation of losses, leaving taxpayers to pick up the bill.
Guest
Hans Stegeman, Chief Economist and Group Director for Impact and Economics at Triodos Bank
Resources & Further Reading:
Green Central Banking on the EU Omnibus Proposal
European Commission: Omnibus Proposal Announcement
Triodos Bank, European Commission’s Omnibus proposal weakens sustainability framework
Simon Nixon in Prospect: Business is not against Net Zero
Connect With Us:
Follow Green Central Banking on LinkedIn, Bluesky, and XSubscribe to the Sustainability Omnibus Podcast on Apple Podcasts and SpotifyContact us at: [email protected]
Call to Action:
If you enjoyed this episode, please subscribe and leave us a review!
Learn more about your ad choices. Visit podcastchoices.com/adchoices