EU’s McGuinness Says Re-Engineering of Global Finance Needed

A labeling system unveiled on Wednesday is nothing short of a “re-engineering of the economy and re-engineering of the financial world,” Mairead McGuinness, the European Commissioner responsible for financial services, told Bloomberg’s Maria Tadeo. “Today very few of our companies and economies meet the high standards of sustainability.” she said. The commission will increase the amount of climate reporting requirements companies will have to do.