New EIT Climate-KIC supported report proposes basis for a future EU taxonomy in legislation

The European Commission has welcomed the publication of the three new important reports by the Technical Expert Group (TEG) on sustainable finance, including key recommendations on the types of economic activities that can make a real contribution to climate change mitigation or adaptation (see official press release). The first report, supported by EIT Climate-KIC’s expertise, provides a classification system – or taxonomy – for environmentally-sustainable economic activities. This aims to provide practical guidance for policymakers, industry and investors on how best to support and invest in economic activities that contribute to achieving a climate neutral economy.