• The Ministry of Finance (MF) is initiating work on a roadmap for the development of sustainable finance in Poland.
• The aim of the project is to leverage development opportunities for the Polish capital market created by the transformation of the European economy towards climate neutrality.
• The project will be implemented in cooperation and dialogue with the Polish capital market participants, non-governmental organizations and public institutions.
• As part of the project the Polish Sustainable Finance Platform will be established
• The roadmap contributes to the implementation of the Polish Capital Market Development Strategy (SRRK).

The inclusion of private investors in financing sustainable development is a prerequisite for a successful and just transition of the Polish economy towards climate neutrality. Moreover, the trend towards a more sustainable financial sector opens up new development opportunities for the Polish capital market, with new financial services and instruments, such as green bonds or ESG data analysis, being created.

The development of sustainable finance in Poland is crucial for the achievement of our climate goals and for the creation of new, attractive jobs in our country. It is also a great opportunity for the development of the Polish capital market. We trust that Poland will become a regional centre of green finance in our part of Europe

- says Minister of Finance Magdalena Rzeczkowska.

Therefore, the Ministry of Finance is initiating work on a roadmap for the development of sustainable finance in Poland. The project will help identify strengths of the Polish capital market and potential challenges thereto, within the context of financing climate transformation. The aim of the project is to formulate a catalogue of actions and recommendations for market participants as well as public administration, serving the development of sustainable financial products and services in the country.

These actions are in line with the EU Renewed Sustainable Finance Strategy and the 2018 EU Action Plan for Financing Sustainable Growth.

Formally called “Bridging the climate financing gap with public policy instruments", the project is financed by the European Union under the Technical Support Instrument. It will be implemented by the ASCENT consortium represented by ICF S.A. in cooperation with the European Commission's Directorate-General for Structural Reform Support (DG REFORM). Its completion is planned for 2024. The project implements recommendations of the Capital Market Development Strategy.

Mario Nava, European Commission’s DG REFORM Director-General:

Supporting transition to a more sustainable economy is one of our top priorities. To help Member States bridging the financing gap and reorienting capital flows to achieve ESG objectives, DG REFORM provides technical support to national reforms in line with the European Green Deal. In this spirit, we are proud to launch the support for developing concrete and actionable policy measures and recommendations to enhance the Polish financial market with a view to fostering sustainable finance based on a strong stakeholder engagement process. We are glad to see that our TSI2022 flagship initiative on “Bridging the climate financing gap” turned into a very strategic and timely project in Poland.

The success of the project depends on the involvement and cooperation with participants of the Polish capital market and non-governmental organizations, as well as representatives of public administration and Polish and foreign development institutions. One of its key elements will be the establishment of the Polish Sustainable Finance Platform as a forum for discussion and exchange of ideas amongst stakeholders.

We look forward to wide and fruitful cooperation with the Polish capital market community. Recommendations for the development of sustainable finance in Poland will not be prepared in the shadow of ministerial offices. That is why we will establish the Polish Sustainable Finance Platform as a forum for engagement of all stakeholders

- emphasizes Katarzyna Szwarc, High Representative of the Minister of Finance for the Capital Market Development Strategy.

Sustainable finance has been one of the most dynamic trends in financial markets in recent years. The value of assets with a sustainable profile on a global scale is expected to constitute one third of all global financial assets by the end of 2025. On the basis of this trend, global and regional centers for sustainable finance are arising. Some of them have already developed their sustainable finance strategies and roadmaps. One of them is the UK, thanks to which London is today at the top of the ranking of the most important centers for sustainable finance in the world. Germany has also adopted similar plans, and Lithuania and Hungary are currently developing them. In the Netherlands, a platform for sustainable finance was established as a forum for sustainable finance development.