Together with over 30 members of the @EPPGroup, we wrote a letter to @ThierryBreton, the Commissioner for the Defense Industry. The EU wants to become less dependent on foreign defense technologies. Therefore, we need a strong EU defense industry. 🧵/1
🐦🔗: https://n.respublicae.eu/Andreas_Schwab/status/1635287120175833091
However, while we expect the defense industry to ramp up production, some companies struggle to secure financing for the necessary investments because financial institutions voluntarily implement ESG criteria. /2
🐦🔗: https://n.respublicae.eu/Andreas_Schwab/status/1635287123124457472
As Commissioner for the Defense Industry,Mr Breton should do everything in his power to achieve this.ESG financial policy goals should not jeopardize European security interests, but be made compatible.Time for @EUCouncil to follow through, too! @EP_SingleMarket #defense #EDIRPA
🐦🔗: https://n.respublicae.eu/Andreas_Schwab/status/1635290147360247812
While the EU cannot force commercial banks and insurers to do business with defense companies, the public banking sector must step in! Too little happened since last year's "Versaille Summit". The @EIB 's lending policy should now be opened for defense goods. /3
🐦🔗: https://n.respublicae.eu/Andreas_Schwab/status/1635289656127528962