EU finance ministers’ February ECOFIN meeting focuses on sustainable finance and the budget

Photo: European Union

On Tuesday Vladislav Goranov, the Bulgarian Minister for Finance, chaired the discussion on sustainable finance held by EU finance ministers at the February Economic and Financial Affairs Council in Brussels. Under Mr Goranov's chairmanship, ministers also adopted guidelines for the EU’s 2019 budget and agreed to recommend to the European Parliament to grant a discharge to the Commission for the management of the 2016 budget.

The discussion on sustainable finance was based on a report on that subject published at the end of January. The Council looks forward to the action plan which the Commission will present in March.

Commenting on the debate, Mr Goranov said:

"The Paris agreement marked a milestone for the global economy and the EU is leading the shift towards a low-carbon society. I believe that the views expressed today will provide food for thought to the Commission when finalising its action plan."

At the meeting, ministers also agreed on what the next budget for the EU should look like. They expect to see a prudent budget, which puts the money where the needs are while leaving sufficient reserves to deal with unexpected events. The focus should be on programmes and actions with EU added value.

The Council formally adopted a recommendation confirming the nomination of Luis de Guindos as vice-president of the European Central Bank.

More details about the outcome of the meeting are available here.

Pictures and videos are here, including of the press conference given by Mr Goranov and European Commission Vice-President Valdis Dombrovskis i.