Planned European Union rules requiring investments to be in line with climate policy should be used to guide economic recovery measures after the coronavirus pandemic, despite not yet being law, the bloc's expert advisers said on Monday.
LONDON - Planned European Union rules requiring investments to be in line with climate policy should be used to guide economic recovery measures after the coronavirus pandemic, despite not yet being law, the bloc’s expert advisers said on Monday.
The Commission had planned to introduce rules on which investments can be called “green” from 2021, forcing providers of financial products to disclose which investments meet the criteria - known as the EU “sustainable finance taxonomy”. The TEG has also drawn up a green bond standard for the EU and a framework to assess whether financial instruments, contracts or investment funds conform with the goals of the Paris Agreement on climate change.
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