The stance of the party on environmental preservation or sustainable practices.
In the ongoing discourse around sustainability, several German political parties have outlined their positions on various aspects, including public procurement and financial regulations. Here's a summary of their key points:
The Social Democrats (SPD) aim to align public procurement with innovation, collective bargaining agreements, gender equality, climate-friendly sustainability, and other important social and environmental considerations.
The Greens, on the other hand, advocate for a comprehensive approach, assigning a significant role to the financial system in combating the climate crisis and transforming the economy. They propose that public banks, insurers, pension funds, and the federal government should divest from environmentally damaging or human rights-violating investments if there's no credible plan for sustainable transformation. The Greens also support backing climate and environmental risks at banks and insurers with equity and considering these risks in ratings.
The Christian Democratic Union (CDU) and Christian Social Union (CSU) share a focus on strengthening Germany as a leading financial hub for sustainable products. They propose implementing the German supply chain law in Europe without tightening and aim to conduct competition analyses and prevent 'gold-plating' to ensure economic feasibility and competitiveness. The CDU/CSU also endorse the UN's sustainability goals and the Paris Agreement on climate change.
The Left party wants to completely withdraw and ban public funds from "fossil-nuclear" investments and supports the further development of the supply chain law.
Unfortunately, the data availability issue remains unaddressed in the party programs regarding sustainability and transparency goals. All parties, except the Alternative for Germany (AfD), endorse the UN's sustainability goals and the Paris Agreement on climate change.
The AfD, however, rejects the goals associated with decarbonization and the societal transition it entails. They also advocate for Germany's complete withdrawal from international environmental agreements and initiatives. The AfD also rejects a supply chain law altogether and warns of uncontrollable liability risks related to the supply chain law.
It is crucial to note that asset managers must receive company data for their title selection, ideally from all companies worldwide, to support sustainability goals. All capital investments should have a transparent sustainability assessment, considering climate goals, other environmental impacts, human rights, labor standards, and development goals, according to the Greens.
Lastly, it is important not to disadvantage Germany in competition with other financial centers through national regulations regarding sustainability. The CDU/CSU position is to implement sustainability regulations such as the EU supply chain directive in a way that minimizes bureaucracy and burdens on companies, opposing overly strict or early application thresholds. The reduction of climate-damaging subsidies is recognized as important by all parties.
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