The EU Taxonomy provides the clearest picture yet for companies and investors of an economy that can fulfil Europe’s 2030 and 2050 climate goals. It will help to grow low carbon sectors and decarbonise high emissions ones.
Transitioning to a climate-neutral economy by 2050 requires clear tools and guidance, reflecting scientific evidence and market experience, to give confidence to companies and investors to act.
The TEG report provides updated sustainability criteria for 70 economic activities—including changes resulting from an open call for feedback in the summer of 2019.
Economic activities such as electricity generation, urban transport, crop-agriculture and cement-manufacturing, if they meet the Taxonomy criteria, can be called “environmentally sustainable” in financial products.