The new EU sustainable finance agenda:
Is a political choice to subsidize private finance rather than curb environmentally harmful activities.
Relies on unrealistic sustainable growth assumptions.
Is arguably not compatible with what science tells us we need to do in terms of timing and ambition.
Might increase inequalities by obfuscating the trade-offs being made under the unrealistic promise of sustainable growth, through the remodelling of the role of the State and via adaptation policies subcontracting natural disaster insurance to financial markets
Could weaken financial stability, if it is to promote new procyclical assets classes on carbon and biodiversity with highly uncertain valuations and a high risk of contagion to the broader economy.
Could arguably be described as a climate policy for the 25%. As its ambition is not compatible with science and as it fosters broken policy tools, it is arguably unlikely to meaningfully alter the current 3+°C degree trajectory.