Among the largest economies of the world, the EU not only has set the most ambitious and legally binding objectives for the reduction of the GHG emissions but also it has accompanied these objectives with a “state of the art” regulatory framework in the realms of investor protection and safety and soundness. Our paper focuses on the bank financing channel and highlights regulatory areas for improvement. To mobilize the necessary funds worldwide, a degree of interoperability of regional taxonomies is required, which calls for international cross-pollination and coordination to mitigate financial risks and the risk of harmful market fragmentation (BCBS 2022, FSB 2022). Also, the full interoperability between the international and the EU corporate reporting standards is a desirable objective. A building bloc methodological approach would make such interoperability easier having the sustainability impact perspective of the “double materiality objective” as an additional layer of the international requirements well understood to all investors in EU undertakings. As per the inclusion of climate risks in prudential regulation, it is completed for Pillar 3 disclosures relating effectively with the EU Taxonomy. Climate risk’s long-term horizon still needs to be implemented in Pillar 2 by linking bank transition plans with stress testing based on climate risk scenario analysis covering both transition and physical risk. The inclusion of climate risks in Pillar 1 faces challenges similar to those of supervisors internationally. Fostering global ambition is an explicit objective of the EU. Its leadership on the realms of investor protection and prudential regulation of climate risks should ideally inform international cooperation and impregnate international standards. This will secure that investments for the fulfillment of the EU climate objectives will flow from in and outside the EU.

在世界上最大的经济体中，欧盟不仅为减少温室气体排放设定了最雄心勃勃和具有法律约束力的目标，而且还在投资者领域为这些目标制定了“最先进”的监管框架保护和安全稳健。我们的论文侧重于银行融资渠道，并强调了需要改进的监管领域。为了在全球范围内调动必要的资金，区域分类法需要一定程度的互操作性，这需要国际交叉授粉和协调，以减轻金融风险和有害市场分散的风险（BCBS 2022，FSB 2022）。此外，国际和欧盟公司报告标准之间的完全互操作性是一个可取的目标。将“双重重要性目标”的可持续性影响观点作为欧盟企业的所有投资者都很好理解的国际要求的附加层，构建集团方法论将使这种互操作性变得更容易。根据将气候风险纳入审慎监管，与欧盟分类法有效相关的支柱 3 披露已完成。气候风险的长期视野仍需要在支柱 2 中实施，方法是将银行转型计划与基于涵盖转型和物理风险的气候风险情景分析的压力测试联系起来。将气候风险纳入支柱 1 面临着与国际监管机构类似的挑战。培养全球雄心是欧盟的明确目标。它在投资者保护和气候风险审慎监管领域的领导作用应该理想地为国际合作提供信息并渗透国际标准。这将确保实现欧盟气候目标的投资将来自欧盟内外。