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EU Taxonomy

As the year draws to a close, IFLR reviews the developing and sprawling landscape of ESG in the UK and Europe
The Platform for Sustainable Finance’s recommendations focus on harmonising the taxonomy with other EU regulations and facilitating its adoption at the global level
As article 8 funds continue to bleed, sources stress a rise in greenwashing concerns and a growing preference for dark-green article 9 funds, while others point to overall market forces
With the first EU Taxonomy data sets now out, unstable figures attest to the difficulties of activities-based reporting
As regulatory greenwashing and green-bleaching concerns grow, market participants wonder what the taxonomy is actually trying to achieve
The EU social taxonomy has been shelved indefinitely due to difficulties in agreeing on a conceptual framework and measurement system that would work at both the EU and global level
In the EU, the Green Bond Standard was proposed to create a taxonomy-aligned framework for green bond issuers but there is uncertainty on how far the UK will align with the EU
The regulation adds to the growing list of rules under development around the world to deter greenwashing