The publication of the taxonomy’s implementation guidelines by the European Commission has been delayed, as the proposal has received criticism from almost all of the EU member states.
In order to reach sustainable development goals, it is crucial to make capital flow into sustainable projects and economical activities. For this, a clear and commonly-accepted classification is needed, for investors to evaluate if their investment is falling into the category of sustainable.
The European Union (EU) is to achieve this via the EU Taxonomy, which is “a classification system, establishing a list of environmentally sustainable economic activities”. The taxonomy is expected to boost sustainable investment throughout the continent and also help fulfillment of the European Green Deal [Read more].
However, publication of the taxonomy’s implementation guidelines by the European Commission, which was planned for the very beginning of the year, has been delayed, as the proposal has received criticism from almost all of the EU member states. While the eastern and southern EU member states communicated their strong concerns on the ‘transition-fuel-status’ of the natural gas, others expressed their worries on the creation of a ‘green bubble’ that would deem the majority of the companies not sustainable. As a result, the Commission is now working on an updated proposal that is expected to be presented towards the end of the month [Read more].
Supporting SMEs and startups in their sustainable growth and transformation is at the core of our project,GT4SME. Our consortium is closely following the developments on EU Taxonomy and European Green Deal. Check our website to see how you can benefit from project results and deliverables.