The logo of defence group Leonardo in Geneva, Switzerland, May 22, 2017. REUTERS/Denis Balibouse
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MILAN, Dec 23 (Reuters) – Italian aerospace and defence group Leonardo (LDOF.MI) called on the European Commission to avoid putting investments in the defence sector on the “naughty list”, urging it instead to label the industry as sustainable rather than socially harmful.
Brussels is preparing to publish its classification system for green investments early next year as investors become more conscious about sustainability and some industries are worried about the negative consequences for future funding.
“If the defence industry is put on the naughty list… the money will go elsewhere,” Leonardo’s Chief Financial Officer Alessandra Genco said.
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“This is particularly true for thousands of small and medium enterprises in Europe, which have less bargaining power with banks than big groups, such as Leonardo,” she said.
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