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Reform Support

Supporting reforms to develop well-regulated, stable and competitive financial markets

Funding Programme
Year
  • 2023

Sustainable finance policy options in the Czech Republic

The purpose of the project is to contribute to the establishment of a coherent and effective national sustainable finance ecosystem to enable the mobilization of the Czech public and private sector towards the use of sustainable finance instruments. This is done by preparing high-quality supporting materials based on good international practices, feedback from relevant stakeholders and aligned with the acquis Communautaire. 

Context

There is a need to address in a coordinated manner the path towards sustainable transition in the Czech Republic. The transition requires major investments both from private public sector to be steered and planned in order to fill in the estimated investment gap of 150 billion EUR from 2031 between 2030 and 2050. Along the way, there is a need to engage all relevant stakeholders from across the public administration, SMEs, academia as well as the financial sector, national development bank and the financial sector supervisory authority. All of these stakeholders have a role to play, for which they need to be ready to understand the opportunities but also obligations stemming from the European Union’s sustainable finance regulatory framework.

Support delivered

PwC Czechia is the implementing partner to the request for technical support from the Czech Ministry of Finance and project implementation period is from September 2023 to February 2025. The main objective is to facilitate the implementation of institutional and growth-enhancing structural reforms in the Czech Republic in the area of sustainable financing. The project envisions the development of Recommendations for public policy measures in the field of sustainable financing as well as an action plan for its implementation. This key deliverable is supported by secondary deliverables which include an inception report, an international good practice report, a diagnostic report and capacity building and knowledge sharing activities. 

Results achieved

This Project contributes to the improvement in comprehension of sustainable financing within the business sector and to better leveraging of the opportunities it can provide. It also contributes to the stimulation of financial flows and practices using sustainable finance instruments in the public and private sectors. Lastly, it aims to strengthen the regulatory and supervisory capacities of the public administration in order to facilitate the implementation of sustainable approaches in the financial and business sectors.