[en] Green finance covers a fast-growing field, with undeniable potential to contribute to climate change financing. This potential has its limits and risks: to what extent are the instruments and discourse claiming to be sustainable finance greenwashing? Is the current trend promoting green finance, and driven by diverse actors, conducive to the consolidation or fragmentation of this new field? Are all types of organizations - public and private - justified in using and deploying green finance mechanisms? There are as many questions as answers currently being compiled. This study firstly introduces the various challenges experienced by green finance. Despite a solid growth, with a growing number of instruments and participation by diverse actors, green finance is limited by a lack of standardization and significant differences between the assorted markets and stakeholders. This situation requires consolidation efforts and an ambitious governance to tackle the global challenge of climate change. The EU has been leading this battle so far. Secondly, there is a need to outline the EU's vision and initiatives: the European Green Deal and the future European taxonomy demonstrate a strong normative and political commitment to climate. Turning this progress into an opportunity, not only at the European level but also at the global level, with shared outcomes, is however a work in progress, whose major challenges are identified here with recommended solutions.