Commission readies implementation of sustainable finance

(EurActiv, 30 Oct 2020) The European Commission will detail in the coming weeks what could be considered a ‘green’ activity, a technical definition that would help to unlock the massive investment needed to achieve the EU’s climate objectives.

The EU reached an agreement on its ‘green’ taxonomy in December 2019. The landmark deal included the criteria to determine what activities could be considered as “sustainable”, an attractive label for investors across the globe.

The taxonomy was seen as a key instrument to mobilise the €350 billion of additional investment Europe needed annually to achieve the climate neutrality by 2050.

But this methodology requires further work to become a useful tool for companies and investors, panellists agreed during a webinar organised by EURACTIV on 27 October.

As a first step, the European Commission will publish “very soon” delegated acts containing detailed technical screening criteria for determining when an economic activity can be labelled as “green”, said Andrea Beltramello, cabinet member of Valdis Dombrovskis, the Commission’s executive vice-president in charge of economy.

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EurActiv, 30 Oct 2020: Commission readies implementation of sustainable finance