The EC’s Technical Expert Group (TEG) on sustainable finance has issued a final version of its report on the EU’s classification of green economic activities, or taxonomy, and a report on the EU Green Bond Standard.

The European Commission set up the TEG on sustainable finance to assist it in developing, in line with the Commission's legislative proposals of May 2018, and the report on taxonomy contains recommendations on the design of the EU’s so called ‘green list’ classification of what it will consider to sustainable. Eventually these will become the benchmark for disclosure of information and EU rules on green activities for climate change mitigation and climate change adaptation.

The TEG commenced its work in July 2018 with 35 members from civil society, academia, business and the finance sector, as well as additional members and observers from EU and international public bodies work both through formal plenaries and subgroup meetings for each work stream. To allow it to conclude its technical work and retain the expertise before the future Platform on sustainable finance is set up, the mandate of the TEG has been extended until 30 September 2020.

Full details here.

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