The European Investment Bank (EIB) released the extensive research conducted by the Vienna Initiative working group on climate change and financial stability, entitled Greening the financial sector: A Central, Eastern and South-Eastern European perspective. The report provides valuable insights and recommendations on navigating the complexities of climate-related risks and fostering sustainable financial practices across Central, Eastern, and South-Eastern Europe (CESEE). The study highlights the significant impact of limited environmental, social and governance data availability in CESEE, which reduces banks’ ability to effectively manage climate risks and undermines effective prudential supervision. While large corporations within the European Union have successfully adapted to robust disclosure requirements and are meeting the increasing demands of environmental, social and governance standards, companies — especially microenterprises and small and medium-sized enterprises (SMEs), which are prevalent in the region — often lack the information and awareness needed to understand the climate and financial risks they face. EIB Vice-President Ambroise Fayolle said: “The report underscores the critical role of the financial sector in driving the transition to a more sustainable economy and achieving the European Union’s green transition goals. Coordinated efforts to unlock the potential of sustainable finance in the CESEE region are crucial for driving sustainable development. As the EU climate bank, the EIB is fully committed to providing continued support to businesses and facilitating the transition to renewable resources.” Foreign-owned local subsidiaries could act as catalysts in developing sustainable finance across CESEE, mirroring best practices from their home countries, provided that parent banks apply their risk management frameworks to these subsidiaries. Moreover, the report addresses key regulatory and supervisory issues, highlighting the need for robust oversight and stress testing of banks’ activities related to climate risks. The report also delves into the decarbonisation of industrial sectors and buildings, with a special focus on the electricity sector. It identifies investment barriers, regulatory complexities and financing opportunities for facilitating the green transition in CESEE. The share of renewables in electricity demand, for instance, is set to increase from around 30% today to 50% by 2030, and to 75-85% by 2050. CESEE countries need an estimated €8 billion of investment in low-carbon technologies per year by 2030. “The report provides a roadmap for CESEE countries to align their financial sectors with sustainability principles,” added EIB Chief Economist Debora Revoltella. “Addressing data gaps across Europe is imperative to enhance comparability and effectively tackle challenges by developing the necessary capacities and financial strategies.”
Romanian deep-tech startup .lumen, the developer of what it says are the world’s first AI-powered glasses for the blind, has secured a new investment from EIT Urban Mobility, the European innovation community focused on advancing sustainable and inclusive urban mobility solutions. The value of the new funding round was not disclosed. The investment aligns with […]
The health spending per capita in Romania was the lowest in the EU, with spending less than half the EU average in 2023, the recently released report, State of Health in the EU - Romania Country Health Profile 2025, shows. At the same time, life expectancy in Romania is 5.1 years below the EU average, […]
Romania’s annual inflation rate stood at roughly 9.8% in November 2025, similar to October, according to data published by the National Institute of Statistics (INS). Food prices increased by 7.6% last month, while services rose roughly 11% and non-food goods climbed 10.7%. The consumer price index rose by 0.42% in November compared with October, while […]
Three French soldiers deployed in Romania as part of NATO’s Multinational Battle Group at Cincu intervened to save a truck driver following a serious traffic accident on the A3 Bucharest–Ploiești motorway, the Romanian Ministry of Defense said. The incident occurred earlier this week as the soldiers were traveling toward Ploiești and witnessed the truck crash...
Eight contemporary art galleries will present the works of the artists they represent at the third edition of the Smallest Art Fair in Town, an event dedicated to works on paper. This edition showcases works “investigating the state of wandering, disorientation, and rediscovery in the face of uncertainty.” Under the title In Dark Woods, A […]
Parents everywhere are asking an important question: What skills will truly prepare a child for a world defined by rapid change, global uncertainty, and the rise of artificial intelligence? For decades, schools focused entirely on academics. Today, research from neuroscience, performance psychology, and leading universities shows a different reality: The students who thrive long-term are […]
