The European Union's green agenda was one of the most discussed topics in financial services before the Covid pandemic hit.
At the heart of it was a proposal to introduce a new taxonomy to classify green finance that aimed to reduce greenwashing and boost sustainable investing.
In our Legal Ease column that appeared in the July / August edition of Funds Europe, Tamara Cizeika took a close look at what the taxonomy could mean for fund management companies.
Last December, European Commission president Ursula von der Leyen described the EU’s Green Deal, which included ambitious targets to reach net zero carbon emissions by 2050, as “Europe’s man-on-the-moon moment”.
Cizeika concluded that the taxonomy regulation represents a step towards that but added that “whether it is too little too late remains to be seen.
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