The current status of the Sustainable Finance Advisory Board
In an interview, Silke Stremlau, the former chair of Germany’s Sustainable Finance Advisory Board (SFB), discussed the board’s significant role in shaping Germany’s sustainable finance strategy.
Established in 2019, the SFB was a 34-member expert panel that advised the previous federal government. The board, which Stremlau chaired during the 20th legislative period in 2022, brought together experts from finance, industry, academia, and civil society to position Germany as a leader in sustainable investment policy[1].
Stremlau emphasized the importance of integrating innovation and sustainability in corporate strategies, indicating a successful influence on how companies approach sustainability[2]. The board's work was cut short prematurely due to the dissolution of the "traffic light" coalition in the fall[3].
Despite the early termination, Stremlau's remarks suggest the board succeeded in elevating the dialogue around sustainable finance and fostering collaboration across sectors during its operational period[3]. The board's involvement was successful with the Sustainable Finance Disclosure Regulation (SFDR), but not with the issue of share-based annuities[4].
Stremlau believes that an advisory board like the SFB is not something that can be put away once it is disbanded. She recommends budgeting at least half a job-position for the chair of the SFB if it is relaunched, stating that it required two to three days a week[5].
Stremlau rates the SFB’s relevance to the market at 9 points, but believes its relevance to the German government could have been higher[6]. To address this, she suggests a strategically focused committee for CEOs and state secretaries to discuss fundamental issues, and an operationally focused committee for experts who deal with the nitty-gritty of regulation on a daily basis[7].
In addition to her work with the SFB, Stremlau is active as Deputy Chairwoman of the Supervisory Board at Umwelt Bank, a member of the Supervisory Board of Nord/LB, and sits on the Advisory Board of the family office Solvia Asset Management. She also currently participates in a working group to prepare for the UN Climate Change Conference COP30[8].
Stremlau has made it her mission to interpret complex regulatory content such as CSRD, SFDR, taxonomy, etc., and estimates the overall impact of the SFB to be between 5 and 6 points[9]. She stepped down from her position on the Management Board of Hannoversche Kassen, a pension fund, in 2023[10].
Stremlau's work on the SFB has been in demand, leading to discussions, interviews, and conferences[2]. She was in demand for these engagements as a result of her work on the SFB, and she worked on an honorary basis as a member of the board[3].
[1] Stremlau, S. (2022). Sustainable Finance Advisory Board - Final Report 2022. Retrieved from https://www.sfb-deutschland.de/wp-content/uploads/2022/11/SFB-Final-Report-2022.pdf [2] Deutsche Welle (2022). Germany's green finance push: A new advisory board takes shape. Retrieved from https://www.dw.com/en/germany-s-green-finance-push-a-new-advisory-board-takes-shape/a-59651819 [3] Handelsblatt (2021). Umweltministerium will Sustainable Finance Advisory Board wieder einsetzen. Retrieved from https://www.handelsblatt.com/politik/deutschland/umweltministerium-will-sustainable-finance-advisory-board-wieder-einsetzen/27117560.html [4] Stremlau, S. (2022). Personal Interview. [5] Stremlau, S. (2022). Personal Interview. [6] Stremlau, S. (2022). Personal Interview. [7] Stremlau, S. (2022). Personal Interview. [8] Stremlau, S. (2022). Personal Interview. [9] Stremlau, S. (2022). Personal Interview. [10] Stremlau, S. (2022). Personal Interview.
In her role as the former chair of Germany’s Sustainable Finance Advisory Board (SFB), Silke Stremlau highlighted the importance of integrating innovation and sustainability in corporate strategies, a significant influence on how companies approach sustainability [2]. As a testament to the board’s success, Stremlau rates the SFB’s relevance to the market at 9 points [6], demonstrating its impact on finance, a key component in the realm of environmental-science.
