Sustainable development has long been at the heart of the European Union (EU) agenda. The EU is committed to development that meets the needs of the present without compromising the ability of future generations to meet their own needs. At the end of 2016, the European Commission (EC), the EU’s executive arm, appointed a High-Level Expert Group on sustainable finance, which built the ‘Sustainable Finance’ (SF) strategy. SF generally refers to environmental and social considerations in investment decision-making towards increased investments in longer-term and sustainable activities. This chapter aims to describe the evolution and changes of the European Sustainable Finance Strategy over the years. It opens by reviewing the two leading events that initiated the EU strategy—the Paris Agreement and the 2030 Agenda for Sustainable Development. It discusses the importance of financial systems, focusing on sustainable finance. It then details the Action Plan on Financing Sustainable Growth, and the Sustainable Finance Framework established in 2018, constituting the EC’s initial strategy, the European Green Deal (2019), and the EC’s renewed sustainable finance strategy (2021). The chapter ends with a discussion of the 2023–2028 strategy of the European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, which aims to ensure that the financial markets support and promote the EU priorities, specifically those at the chore of this chapter.