For now, we will not take into account the negative impacts of investment decisions on sustainability factors in our operations’ – this is roughly the content that most Croatian financial institutions have published on their websites in recent months, announcing that they will reconsider this decision next year or the year after.
Although it could be concluded from the above that the SFDR Regulation (Sustainable Finance Disclosure Regulation), under which financial institutions have had to disclose since March this year whether they consider the harmful effects of investment decisions on sustainability factors, will remain a mere letter on paper, it seems that this, along with a set of other rules that will soon be adopted at the European Union level in the not-so-distant future, will indeed compel, or more nicely put, encourage financial institutions and companies themselves to ‘go green’.
Those who do not adapt to ‘green’ rules will ultimately find it harder to obtain financing. How the rules from the legislative framework aimed at strengthening the resilience and sustainability of the EU economy in light of climate change will force companies and financial institutions to turn to sustainable business practices, and which companies will need to adapt to these new reporting rules, in what way and from when, will be discussed in the next issue of Lider.
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