Launch of the [tra:ce] Working Paper No. 5
Launch of the fifth [tra:ce] working paper: “Save the banks or save the planet? Governing through strategic ambiguity in EU banking regulation on sustainability”
The launch of the fifth [tra:ce] Working Paper took place on 17 October 2025.
The authors of the paper analysed how the EU has integrated the principle of the Paris Climate Agreement - reconciling financial flows with a climate-neutral economy - into banking regulation. They showed that two competing discourses characterised the policy process: one focused on climate as a financial risk, the other on credit governance with political priorities. Although various attempts were made to introduce elements of credit management, risk considerations dominated the debate. The paper argues that while this risk narrative helped bridge political differences, it significantly limits the EU's ability to drive forward the financing of a green transition.
Afterwards, the authors discussed their findings with Julia Symon from Finance Watch and Lydia Marsden from University College London.
The recording of the event is available on the [tra:ce] YouTube channel.