Climate finance experts unveil “green dictionary” and “add grammar”
The practical side of Europe’s green planning went on display today 12 March when the EU Taxonomy – a vast dictionary of definitions of exactly what constitutes genuine greening across the full range of real-life commercial applications – was discussed at a web-based stakeholder dialogue led by the climate experts who have spent two years designing it.
The Technical Expert Group on Sustainable Finance have in recent days also published both their report on the EU's classification of green economic activities – or taxonomy – and a report applying similar thinking to the issuance of green bonds funding green projects, the EU Green Bond Standard. Through these reports, investors and industry have for the first time been given a definition of what is “green”, rather than just “greenwashing”, or looking green. This will give a real boost to sustainable investments.
Thursday’s webinar replaces what before the outbreak of coronavirus had been intended to be a physical gathering in Brussels. It gives the technical experts – who hail from across civil society, academia, business and the finance sector, and assist the Commission in developing policies on sustainable finance - an opportunity to present and discuss their final reports.