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BNR: Most companies in Romania are at risk, following changes in green agenda
Most companies in Romania are at risk, because of changes in the green agenda, which generate about 40% of gross VAT in economy and hold about 50% of shares in economy, said Florian Neagu, deputy manager in the Financial Stability Department of the National Bank of Romania (BNR) at a conference on Thursday.
“Romanian economy has not adapted and authorities have not had an outlook to enter this new European green agenda. We lack an industrial policy for more than a decade. There is no industrial polocy which should focus the authorities' outlook and boost certain development domains. Finally there is the risk of not benefiting from these new opportunities and paying especially costs that come associated with changes of climate agenda. Another vulnerability is that in Romanian economy most companies are at risk, following changes coming from the green agenda. According to our calculations , those companies generate about 40% of gross VAT in economy and hold about 50% of all shares in economy. So this transition should take place in orderly fashion,” Neagu said.
The BNR specialist considers that authorities should be aware of the fact that carrying out the transition process to green economy can bring positive results and development opportunities. “That is why, if we draw a line between opportunities and challenges, this green transition process should normally bring a positive result. In case we are not aware of opportunities, or vulnerabilities, there is the risk of paying the price without significantly benefiting from opportunities,” Neagu pointed out.
CFA Association Romania, in partnership with the Association of Financial Banking Analysts in Romania, the Treasurers' Association in Romania and ACI Romania, organized on Thursday the conference “Sustainable Finances: how to finance change”.