15/03/22

SUSTAINABLE FINANCE: EU advisers to propose adding 'amber' label to green finance rules.

As published on reuters.com, Tuesday 15 March, 2022.

The European Union's advisers on the bloc's green investment rulebook will propose adding an "amber" category to the system, to flag investments that are not fully environmentally friendly, the EU's chief adviser said on Tuesday.

"The platform will shortly recommend an extended taxonomy framework which includes an amber category, which we believe is environmentally robust and which we believe is a better option to describe the multiple transitions on multiple environmental objectives for multiple economic sectors, which we must now embrace," Nathan Fabian, chair of the European Commission's platform of advisers on the EU sustainable finance taxonomy.