The report, published on 9 September by Mario Draghi, former President of the European Central Bank and former Italian Prime Minister, emphasises the urgent need for Europe to boost its economic growth and competitiveness, while also highlighting that decarbonisation is essential in reaching these objectives. To achieve this, the report provides a clear picture of the current EU investment gap, estimated at up to €800 billion annually. A massive leverage of private investments is needed to fill this gap.
While the report provides some useful recommendations on the Capital Markets Union (CMU), Eurosif strongly disagrees with how it presents EU sustainable corporate reporting and due diligence rules as “regulatory burdens”. This disregards their essential role in advancing industrial decarbonisation and scaling up investments for the transition to a sustainable economy.
Eurosif supports clarity, consistency and usability in EU sustainable finance rules; streamlining must not result in deregulation. Directives such as the CSRD and CSDDD must be preserved and duly implemented for the EU to meet its climate targets and scale-up its sustainable growth.
More on Eurosif's reaction to the report
here.
Find Eurosif’s positions on CSRD/ESRS
here.
Find Eurosif’s positions on CSDDD
here.
Find the full version of the Draghi Report
here.