A comprehensive restructuring of economies and a massive increase of investments in climate-friendly technologies, infrastructures,
and R&D is needed for reaching the Paris targets. The EU has launched a process for greening the financial sector emphasising
the need for new instruments and financial market regulation for aligning investments to sustainability. This chapter summarises
research on two topics: firstly, what are the main political strategies, especially at EU level, to support green finance,
and secondly, which are the key supporting factors, barriers and actors for an upscaling of green investments? To assess the
relevance of green finance in the financial market and climate policy (with focus on Austria) an expert survey was conducted.
It delivers insights on promising policies and strategies for fostering the growth of green finance. Conclusions can be drawn
on instruments (like carbon pricing) that should be integrated in post-COVID-19 stimulus packages to ensure a Paris-aligned
recovery.
JEL-Codes:Q54, Q58, G11, G18
Keywords:Green finance, EU sustainable finance strategy, survey data, low-carbon transition, green recovery
Forschungsbereich:Klima-, Umwelt- und Ressourcenökonomie