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Europe can lead the world in green finance, UBS chairman says

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Europe has the chance to lead the world in developing capital markets for green finance, according to UBS Chairman Axel Weber.

, Weber said that while Europe will struggle to catch up to the size of U.S. capital markets, one area where U.S. companies and federal policy trails the continent is in sustainability.

Asked whether the European Commission was to blame for European companies' failure to maintain pace with transatlantic counterparts, Weber suggested that banks and market players had failed to gain the "dynamics and size of global capital markets that the U.S. has," adding that Europe will soon be surpassed by China on capital also.

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