Chapter 6: Business and private finance: their role in the EU's climate transition
Open access

This chapter questions the role of business in realizing the EU’s environmental and climate policy agenda in a context where the scope of issues addressed by policymakers has expanded significantly. Particular attention is paid to the current shift beyond regulating traditional industrial sectors and their environmental impact to focusing on transforming the financial sector and, by that means, greening the entire economy. Linking the literature on business power and European governance, the chapter examines how various business activities are subject to regulation, how business branches engage in voluntary action to address the climate challenge, and how private actors seek to influence the evolving policy agenda. While the chapter concludes that climate-related regulation has become a key concern for business actors across the board, it finds that they still dispose of manifold ways of shaping the evolving policy agenda, notably through expert input and voluntary measures.

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