Savings and Investment Union – Response to Consultation
In her 2024–2029 Political Guidelines, President von der Leyen announced that the European Commission would propose a European Savings and Investments Union (SIU), encompassing both banking and capital markets. The SIU aims to leverage Europe’s vast private savings to support broader objectives, including helping people save more effectively, fostering capital for innovation, unlocking digital finance, ensuring the competitiveness of the financial sector, and harnessing sustainable finance.
As part of this initiative, the European Commission launched a public consultation to gather insights from stakeholders and citizens on the future of the SIU. To ensure that the SIU is equipped to support the growth of impact investing within the EU, Impact Europe contributed to the consultation, advocating for key measures, including:
- Creating a more integrated European capital market through a ‘28th regime’.
- Enhancing financial literacy and scaling investment products to make impact investing more accessible to retail investors.
- Expanding the 90/10 Solidarity Fund model, allowing it to be marketed and scaled across the EU to finance more social enterprises and EuSEF funds.
- Unlocking pension fund capital for impact by modernising the IORP II Directive and introducing an impact category under the SFDR.
- Tapping into the underutilised potential of philanthropic organisations in impact investing.
- Increasing the EU budget allocation for repayable finance dedicated to impact investing, tailored to unlocking capital from pensions, savings, insurers, and foundations.
By advocating for these measures, Impact Europe seeks to ensure that the SIU plays a vital role in mobilising capital for impact, driving sustainable growth, and strengthening Europe’s financial ecosystem.
Read the full consultation response and recommendations: