Green Finance in Austria

The Green Finance Alliance will pave the way for a sustainable financial system. It is one of the world’s first government initiatives to combine a voluntary commitment by financial companies to meet the Paris climate goals with mandatory compliance with specific criteria for their core business.

Green Finance: Jahresveranstaltung 2023 - Gruppenbild aller zehn Mitglieder mit Ministerin Leonore Gewessler

The annual event on 3 May 2023 was themed "Green Finance as a Driver for Sustainable Change". There was a review of the progress made in the first year of the initiative, an outlook on the topic of biodiversity and the admission of the newest member.

In order to strengthen and promote awareness of interrelationships, the BMK offers information on climate and environmental aspects in the financial sector with Green Finance Literacy.

About Green Finance

Who will finance climate protection and the energy transition? How can private capital be successfully channeled towards green projects so we secure a sustainable future? How can this help us achieve our Paris Climate Agreement goals? Green finance can provide answers. Green Finance actively incorporates the environment and climate into decisions in the financial world. This accelerates future-oriented investments in sustainable projects and products.

Green Finance Agenda

Pioneers for climate action

The Green Finance Agenda is a comprehensive strategy presented by the Federal Ministry for Climate Action (BMK) and the Federal Ministry of Finance (BMF) that pursues three key objectives: mobilizing capital to protect the climate and make Austria sustainable, managing climate-relevant risks accordingly as well as promoting transparency, a long-term approach, and effective impact in the capital market. As a roadmap, the Green Finance Agenda sets out how the areas of action are to be implemented, when this is planned and which institutions are responsible for this.

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Green Finance Alliance

Pioneers for climate action

By establishing the Green Finance Alliance, the Ministry for Climate Action has launched an initiative that supports financial companies on their pathways towards climate neutrality. Thereby, Austria is taking an important step towards the implementation of the climate mitigation objectives for firms from the financial sector as defined in the Paris Agreement. The Green Finance Alliance is among the first global government backed initiatives which calls on financial companies to voluntarily commit to the Paris climate targets and thereby also to specific criteria for their core business.

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Green Financial Literacy

Sharing knowledge

The activities of the Ministry for Climate Action in the area of green financial education expand existing education and training programs in the financial sector to include climate-related topics. The programs are tailored towards a variety of target groups – from experts to schools, universities and universities of applied sciences, as well as municipalities and private investors.

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Green Finance

The transition path from fossil fuels towards efficient, renewable energy sources requires high levels of investments. Along with public funds, private capital must be channeled increasingly into climate-friendly activities. Therefore, the financial sector plays an important role in meeting both the Austrian- as well as Paris climate targets. Green investments are an important lever for climate mitigation, green economic growth, and a sustainable economy.

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