Digital, green finance are likely financial-service themes of next EU Commission

16 August 2019 8:11pm
The rise of digital finance and the need to invest to respond to climate change are likely to be the major, cross-sectoral themes of the next European Commission, whose top officials are due to take office in November.

Freed from the need to firefight a crisis, financial regulators may seek to latch on to wider political trends; and it already seems clear what they will be.

One is the need to limit, or at least adapt to, global warming, where finance must play its part: the commission reckons 180 billion euros ($202 billion) a year will be needed to cut the bloc’s dependence on fossil fuels. Another is the rise of information and communications technology, which is bringing its mix of disruptive threats and opportunities to banking, insurance and investment.