How the EU’s Taxonomy Combats Greenwashing
The European Green Deal, launched in 2019, includes the goals of reaching net-zero emissions in the European Union by 2050 and helping capital markets identify sustainable investment targets. To that end, a classification system of sustainable business activities was developed to determine whether companies subject to the Green Deal’s reporting requirements are meeting its benchmarks. More global companies with operations in the EU will be subject to the taxonomy in just two years.
