“There is a great deal of funding that the European Commission is providing, but only for a niche”

Sofia Santos, Sustainability Champion in Chief at Systemic, was one of the speakers at the 5th edition of the Green Economy Forum, which took place today, 3 February, in Lisbon.

“We will manage to issue a green bond”

Systemic’s Sustainability Champion in Chief, Sofia Santos, notes that ‘green’ investment emerges “in the most conventional ways.” In areas such as climate change mitigation, for example, “there is a business model,” and “investors are all waiting for projects to come forward.” The gap she identifies lies more in financing for adaptation measures that help avoid future costs.

In this context, Sofia Santos argues that green bonds could serve a country like Portugal, which has significant adaptation needs. “We will manage to issue a green bond,” she says, viewing green bonds as “an excellent signal that can be sent to the financial market,” as they demonstrate the State’s commitment. She even suggests that such bonds could be issued at municipal level.

“There is a great deal of funding that the European Commission is providing, but only for a niche”

Systemic’s Sustainability Champion in Chief considers that the European Commission continues to fulfil its “mission,” but does not refrain from criticism. “It is a myth that the European Commission is simplifying life for companies. It is not simplifying it; it may be reducing the volume of data,” Sofia Santos stated.

On regulation, she believes there is not “too much” of it and regrets that it arrived too “late.” “Because it arrived so late, we now have to worry about adaptation,” she said.

She acknowledges that the European Commission is doing “a great deal,” highlighting the role of European banks. “There is a great deal of funding that the European Commission is providing, but only for a niche. The issue of sustainable investment is being implemented only in Asia and Africa. The financial component is the only part that has created a barrier,” she said.

Full summary of the interventions.