Since the 2000s, the three dimensions of sustainability—ecology, social, and economy—have been in focus. However, the ecological perspective has dominated so far. The EU Action Plan on Financing Sustainable Growth reflects this by prioritizing climate goals. However, the social implications of climate change are becoming increasingly evident, and the social dimension, which places people and society at the heart of sustainability, needs to gain awareness.

"The Moment of Truth" – European Forum Alpbach: 79 Years After Its Founding, Peacekeeping Remains the Central Theme!

Bringing together participants from around the globe in the breathtaking Tyrolean Alps, the Forum offered its usual diverse array of topics. But in 2024, it also included spaces for reflection, moments of silence, and peace circles, fostering deep connections and an atmosphere of trust.

At the invitation of the MEGA Bildungsstiftung, a non-profit organization founded by the B&C Private Foundation and the Berndorf Private Foundation, I have the honor to participate in the Forum Alpbach. The goal of the foundation is to promote equal opportunities in education and to strengthen economic competence through life skills. I am excited about the experiences and insights that await me in the picturesque Alpbach Valley.

The "imh Sustainable Finance Conference" was recently held in Vienna, and I was the technical chair. The topics covered ranged from politics - the Ministry of Climate Action, Environment, Energy and the Environment Agency Austria - to presentations by the Financial Market Authority, the Austrian Control Bank and the Austrian Development Bank, and culminated with the Austrian Ministry of Finance reporting on green innovations in public finance.

The Vienna Stock Exchange recently reached a significant milestone. The Vienna ESG Segment, launched in May 2022 to consolidate sustainable bonds under the highest transparency standards, has now recorded its 100th green bond. As a result, the number of ESG bonds on the Vienna Stock Exchange has nearly doubled, with an impressive total of EUR 20 billion already raised by bond issuers for sustainable transformation projects.

How can we make an effective contribution to sustainable economic and social development? Is that really the question that is at the center of all efforts and activities, all plans and guidelines that come from Brussels, or are they mainly serving political interests that really don't care about our ecosystems?

The fact is that REPowerEU is a plan to rapidly reduce dependence on fossil fuels from Russia and accelerate ecological transition - according to the official broadcast from Brussels. 

A few days ago the Federal Environment Agency invited to an updating event on the subject of "EU Taxonomy". The introductory words by Jürgen Schneider, Head of the Climate and Energy Section at the Federal Ministry, immediately got the audience right to the point with the latest examples Shell and ExxonMobil, and yes, there is a lot going on in the field of ​​sustainability and climate protection. The last week was extremely exciting with the absolutely remarkable verdict in the Netherlands against the private oil and gas company Shell. Shell was obliged to drastically reduce its CO2 emissions by 2030! This proves that Europe takes the climate goals seriously!

Many corporations have been instrumentalizing the sustainability boom and skillfully use it as a marketing and sales strategy by simulating fair products with their own slogans and labels.

Good intent or greenwashing?
Sometimes I have the feeling that those who strive to bring good into the world are viewed particularly critically, because everything is being questioned today. And that's a good thing, because the mistrust is often absolutely justified, as countless examples testify to. 

Many trends have accelerated again due to COVID-19. The spotlight on the Green Deal was intensified as well. The European Green Deal Call now financed by "Horizon 2020" with a volume of 1 billion euros is intended to promote Europe's recovery from the coronavirus crisis by transforming green challenges into innovation opportunities. Innovative projects are intended to support the EU in recovering quickly from the crisis and also contribute to social robustness and also to green and digital reconstruction. Sounds great - the ambitious approach corresponds to the scope of the task!

Collective awakening is needed!
The opportunities that Corona brings are obvious - especially in the much-discussed environmental benefits. Not just this, but it also is related to the consciousness level, this “pandemic” is doing something to our society and we are being called to start questioning – in many different aspects. This situation has such disruptive effects that collective awakening is on the agenda and with it, the topic of ESG; therefore it looks like COVID-19 will in some way lead to a realignment