German government seeks 25 advisors for new national sustainable finance strategy

Applications now open for overhauled sustainable finance advisory board.

The German government has opened applications for new members of its influential sustainable finance advisory board. 

The government is seeking to appoint around 25 members to the independent committee, which was established under the previous coalition. It is responsible for advising the government on the development and implementation of its sustainable finance strategy, as part of its ambition to transform Germany into a “leading centre” for sustainable finance.  

Last summer, the committee released its recommendations to the government, which were translated into a sustainable finance strategy. Among the major recommendations was a proposal to rate all financial products on sustainability on a five-point scale. German regulator BaFin will issue fund sustainability guidelines in coming months following a consultation which ended in September.  

However, members of the committee have since criticised the national strategy for its lack of ambition, complaining that some recommendations were watered down while others were completely ignored. The new government agreed in its September coalition agreement – the first ever to namecheck sustainable finance – that it will renew the mandate of the committee and implement a “credible” sustainable finance strategy. 

The committee includes representatives from asset owners and managers, banks, academia, industry and civil society. Previous members came from Allianz, Deutsche Bank, BNP Paribas, Triodos, Dekabank, Vonovia, Hoechst-Gruppe pension plan and DZ Bank, as well as key German corporates such as BMW and wind energy firm EnBW. Previous members will not automatically be reappointed but are permitted to reapply. 

Applications close on the 20th of April.