The EU's agenda on financing for environmental sustainability 欧盟可持续发展融资议程 Daniel Calleja 丹尼尔.伽列禾 Director General Environment, European Commission 欧盟委员会环境总司总司长

Contents 内容 1 2 3 4 Introduction 简介 EU policy context 欧盟政策框架 Example Circular Economy循环经济实例 3 Financing for climate and SDGs 气候与可持续发展目标融资 4

Introduction 简介  leverage private capital 利用私有资本 Share EU experiences and learn about China's recent initiatives in green finance 分享欧盟经验 并了解中国在绿色融资领域的实践 UNEP Inquiry into the Design of a Sustainable Financial System 联合国环境署倡议设计可持续金融体系 Paper prepared by CCICED for this AGM "Green Finance Reform and Green Transformation" 国合会年会‘绿色金融改革和绿色转型’讨论稿 Huge investment needs to meet environmental objectives in China and EU 中国和欧盟为实现环境目标需要巨大的投资  leverage private capital 利用私有资本

EU policy context 欧盟政策框架 European Fund for Strategic Investment (EFSI) 欧洲战略投资基金

EU policy context (2) 欧盟政策框架 2 Capital Markets Union Action Plan (CMU) 资本市场联合行动计划 Increase and diversify the funding sources for Europe’s businesses and long-term projects 增加并多样化欧洲企业和长期项目的资金来源 Create the right conditions to enable long-term and infrastructure investments 创造长期基础设施投资的适当条件 Harness finance to deliver environmental sustainability 运用融资实现环境的可持续

EU policy context (3) 欧盟政策框架3 Investors need information on environmental, social and governance (ESG) impacts 投资者需要环境、社会和治理影响的信息 EU Directive on the disclosure of non-financial and diversity information, addressed at larger companies in the EU 欧盟对公开非金融和多样化信息的指令在欧盟众多大 型企业得以落实 Need for the right framework conditions: 需要适当的政策框架 Fossil fuel phase out: the Commission encourages EU Member States in sharing best practices 淘汰化石燃料：欧委会鼓励各成员国分享最佳实践经验

Example Circular Economy 循环经济实例 Many players, innovative, smaller = risky projects 多方参与，创新，小规模=有风险的项目 Support for research & innovation through Horizon 2020 通过欧盟地平线2020支持科技创新 Support to SMEs through COSME 通过COSME支持中小企业 LIFE funding for environmental projects 环境项目由 LIFE资金支持 Support for eco-innovation 支持生态创新 Support from EFSI and the EU's structural and investment funds (ESIF) 通过欧盟结构投资基金获得支持

Example Natural Capital Financing Facility 自然资本融资实例 EIB 欧洲投资银行 LIFE 项目 Environment / Climate 环境/气候 NATURAL CAPITAL FINANCING FACILITY自然资本融资机制 Co-investors 联合投资人 private and/or public 私营和/或公共 FINANCIAL INSTRUMENTS财政工具 EUR 100-125m  EUR 50m First Loss for EIB 1-1.25亿欧元 欧洲投资银行5000万欧元先期 TECHNICAL ASSISTANCE 技术援助 EUR 10m1000万欧元 Investments投资 Project level 项目层面 DIRECT INVESTMENTS IN PROJECTS 项目直接投资 INTERMEDIATED INVESTMENTS: 居间投资 Private Equity Funds 私营平等资金 Credit Lines to Banks银行信贷链

Financing for climate and SDGs 气候和可持续发展目标注资 Climate Finance – one of the big challenges to ensure the low-carbon transition 气候资金 – 低碳转型面临的最严峻 挑战之一 20% of the EU budget until 2020 for climate (internally and externally) 欧盟至2020年全部预算（对内和对 外总和）的20%将用于气候领域 European Investment Bank has a 25% climate finance target 欧洲投资银行设立25%气候投资目标

Financing for climate and SDGs (2) 气候和可持续发展目标注资 2 2030 Agenda for Sustainable Development 2030可持续发展议程 World Bank, IMF, MDBs: 世界银行，国际货币基金组织， 多边发展银行 need to move from 'billions' to 'trillions' 需要从‘数十亿’转向‘数万亿’ investments of all kinds needed: public and private, national and global 投资渠道多元化 – 政府或私人，国 家或全球

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