NO. 1209

[Tamkang Clement and Carrie Chair] Prof. Dr. Rüdiger Veil Shares EU's Success Story in Advancing Sustainable Finance

Prof. Dr. Rüdiger Veil from Tamkang University’s sister school, Ludwig Maximilian University of Munich, was invited by the Department of Diplomacy and International Relations to deliver a Tamkang Clement and Carrie Chair lecture on March 25 at 1:20 p.m. in the Chang Yeo Lan International Conference Hall. His talk, titled “Sustainable Finance at the Crossroads – Perspectives from the EU and Germany,” shared insights on the approaches taken by the EU and Germany, hoping to guide sustainable finance toward the right path at this pivotal moment.

As Director of the Munich Center for Capital Markets Law and a Professor at the Faculty of Law at LMU Munich, Prof. Veil discussed sustainable finance from both legal and economic perspectives. He explained that sustainable finance is a component of EU financial market law, and the EU has issued a series of regulations mandating disclosure requirements and corporate sustainability reporting. Compliance with these regulations is a legal obligation for asset managers, banks, and investors in the financial sector. He also referenced the Corporate Sustainability Reporting Directive (CSRD), implemented in 2023, which constrains corporate business models.

Using Germany as an example—the EU’s largest economy and often considered its “locomotive”—Prof. Veil noted that as a federal state, its constituent states actively implement climate protection policies. In 2021, Germany released its Sustainable Finance Strategy, and ESG risk management has become a core responsibility of the Federal Financial Supervisory Authority (BaFin). Additionally, due to the “Brussels Effect” of EU law, sustainable finance is expected to reach a global volume of USD 50 trillion by the end of 2025. The issuance of green bonds and other climate-related financial products is gaining momentum worldwide. Prof. Veil pointed out that Munich, where LMU is located, has issued €300 million green bonds in recent years, drawing high investor interest — evidence that sustainable finance has become part of daily life in the EU.

He also repeatedly mentioned the global impact of Donald Trump’s return to the White House and his “America First” stance, which undermines international climate policies. Compared to the EU’s firm approach, the future direction of U.S. policy remains uncertain. He praised EU Commission President Ursula von der Leyen, who, in her second term, has introduced clear policy guidelines that reflect the EU’s determination to combat climate change. He believes this is the “path to success” and that binding legal regulations are essential for advancing sustainable finance.

During the Q&A session, Professor Chung-Hung Chuo and Assistant Professor I-Ching Chen from the Department of Diplomacy and International Relations, along with several students, posed questions ranging from “How can international and public relations contribute to healthy economic development?” to inquiries on the legal validity of CSRD and ESG skepticism from the perspective of Taiwanese businesses. One student also asked whether TKU’s vision of achieving a “Net Zero Campus by 2050” could succeed. Prof. Veil responded that the EU has already enacted relevant regulations, and it is crucial for Taiwanese enterprises to catch up. He also cited European youth movements that have influenced government action, encouraging students to support the green economy and achieve progress through societal systems.

On the afternoon of March 24 at 2:00 and 2:30, Prof. Dr. Rüdiger Veil, Munich Center for Capital Markets Law and a Professor at the Faculty of Law at LMU Munich paid visits to President Huan-Chao Keh and Chairperson Flora Chia-I Chang, accompanied by Dean of the College of International Affairs Prof. Cheng-Hao Pao, Department of Diplomacy and International Relations Chair Prof. Hsin-Chih Chen, and Professor Li-Jiuan Chen-Rabich. During the visit, he presented honey from bees kept on the LMU campus, showcasing the university’s efforts toward sustainability.

Prof. Veil began by congratulating Tamkang on its 75th anniversary. President Keh welcomed him and expressed appreciation, extending an invitation for future visits. Chairperson Chang explained the origins of the Tamkang Clement and Carrie Chair series. Visiting Taiwan for the first time, Prof. Veil praised the beautiful campus, which left a deep impression. President Keh also recalled his 2019 visit to LMU and noted the 45-year sister-school relationship between the two institutions. He emphasized continued strong ties through mutual visits, student exchanges, and faculty residencies. He also introduced the “Taiwan-Europe Linkage Scholarship,” encouraging Prof. Veil to recommend students to study at Tamkang and experience a different cultural and academic environment.

President Keh and Chairperson Chang also exchanged views on the lecture topic with Prof. Veil. Prof. Veil shared the German government’s efforts in promoting sustainability and LMU’s initiatives in fostering sustainable thinking and a circular economy. President Keh discussed TKU’s recent progress in its “AI+SDGs=∞” vision and dual digital and net-zero transformations. Dean Pao added that Tamkang University is actively promoting the integration of AI into teaching to enhance student learning outcomes. President Keh presented Prof. Veil with a Panda trophy to commemorate the visit. Chairperson Chang gifted a vase featuring calligraphy by masters Chi-Mao Lee and Ben-Hang Chang, along with scenes from the TKU campus and lyrics of the school anthem.

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