On 8 March, the Commission unveiled its strategy for a financial system that supports the EU's climate and sustainable development agenda. Additional investments of around EUR 180 billion a year are needed to achieve the EU's 2030 targets agreed in Paris, including a 40% cut in greenhouse gas emissions. This is why, on the basis of the recommendations set out by the High-Level Expert Group on sustainable finance (HLEG), the Commission has set out a roadmap to boost the role of finance in achieving a well-performing economy that also delivers on environmental and social goals. The Action Plan on Sustainable Finance is part of the Capital Markets Union's (CMU) efforts to connect finance with the specific needs of the European economy for the benefit of the planet and society. It is also one of the key steps towards implementing the historic Paris Agreement and the EU's agenda for sustainable development.