Banking

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Stringent EU rules on sustainable finance are preventing investment in emerging markets, the head of one of the EU’s largest development banks has said, warning that Chinese and Middle Eastern groups are filling the gap.“The requirements are so strict for the moment that the chances of potential clients in emerging markets moving to other financiers, for instance from east Asia, is really serious,” said Michael Jongeneel, chief executive of FMO, the Dutch...

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Brussels’ efforts to establish hydrogen as a clean fuel have been criticised by the EU’s audit body in a damning report which says that, despite €18.8bn in funding, the bloc will not achieve its “unrealistic” targets.The European Court of Auditors said the European Commission “did not undertake robust analyses” before setting production and import targets totalling 10mn tonnes of renewable hydrogen by 2030.“The EU targets turned out to be overly ambitious: based...