Mylonas (NBG): Banks alone cannot guarantee the success of green transition

The contented of the outgo of the greenish transition, arsenic it is shaping up for Europe and Greece, within a fragmented planetary environment, was highlighted by Pavlos Mylonas, CEO of the National Bank of Greece (NBG), successful his statement astatine the Economist Sustainability Summit.In the sheet entitled “Green trade wars: is planetary clime co-operation collapsing?”, Mylonas estimated that European banks will proceed to play their relation successful financing sustainable investments.

Mylonas emphasized that a much flexible attack to the greenish transition needs to beryllium adopted, so that, connected the 1 hand, the costs for businesses and citizens are manageable, and connected the different hand, the competitiveness occupation for the European system is addressed.

The CEO of NBG stressed that “we request communal sense, a simplification successful bureaucracy and wide priorities,” referring astatine the aforesaid clip to the limitations that Europe faces successful terms of the quality to subsidize the vigor transition, owed to the small fiscal space.

Mylonas estimated that, though respective banks person withdrawn from alliances, such arsenic the Net-Zero Banking Alliance, astir European banks, including National Bank of Greece, will stay committed to their committedness to net-zero goals and sustainable financing.