Blog

Authors: Daniel Sorrosal (FEBEA), Gian-Luca Gasparini (FEBEA), Claudia Pani (SCP/RAC)

The objective of this Policy Brief is to make the case for the creation of a Mediterranean Sustainable Finance Observatory to support green and sustainable business via a set of recommendations. The whole Mediterranean is facing systemic risks due to environmental pressures and climate change and the resulting risk of social instability. Coordinated action is needed in order to find lasting solutions and sustainable development is crucial in ensuring a future for the region. One important tool available to achieve a fair development is access to sustainable finance, deployed in a way that takes into consideration economic, social and environmental sustainability. However, efforts have been limited so far and an approach that promotes cooperation among different actors is required. To this end, a Mediterranean Sustainable Finance Observatory should be created, with the objective of fostering the exchange of information between countries and promoting a rigorous model that sustainable financial actors can follow. It is important to ensure that the members of the Observatory represent both the North and South of the Mediterranean, as they share the same sea and the same future. A set of recommendations is presented in the following page in order to achieve this objective. Moreover, the structure and role of the Observatory will be presented, providing an overview of the types of activities and internal organisation that it could feature