The European Commission says the sustainable finance taxonomy designed for institutional investors could be applicable to the public sector, i.e. local governments.
It’s one of a string of elements in the EU’s plan to mobilize €1trn of investment towards the green economy, under the ‘European Green Deal Investment plan’ announced yesterday.
The taxonomy, a centrepiece of the bloc’s Sustainable Finance Action Plan, was signed off late last year after months of political wrangling.
Now, top EU officials are suggesting a wider application for the taxonomy, which aims to define what is sustainable.
“We will explore how this taxonomy can be used not only in private but also in the public sector, and later this year we will follow it up with a renewed sustainable finance Action Plan,” Executive Vice-President Valdis Dombrovskis told the European Parliament’s plenary session in Strasbourg.
The official communication from the European Commission sa…