Context of the mandate of the Commission in terms of Sustainable Finance
In line with the goals of the Paris Agreement1, the European Union launched the European Green Deal setting out the objectives2 to achieve a carbon neutral economy by 2050. This European Green Deal is supported by the European Action Plan which aims to strengthen funding for sustainable growth with, among other actions3, the target to reorient capital flows towards sustainable investment.
The EU Taxonomy Regulation, published in June 2020, is part of those initiatives to foster sustainable investment.
Presentation of the Taxonomy
The EU Taxonomy4 is a tool for stakeholders to inform or be informed on activities which significantly contribute to sustainable development. It represents a classification system which aims to establish six environmental objec-tives as contributing to the transition to a more sustainable economy:
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