EU needs official Green Bond Standard, HLEG to advise
The European Commission is being advised to set up a comprehensive Sustainability Taxonomy by 2020 to guide investment decisions towards a greener economy, and to develop an official EU Green Bond Standard. These are key recommendations of its High Level Expert Group on Sustainable Finance, according to a leaked draft copy of its report seen by GlobalCapital.
But the report stops well short of recommending that financial firms should get capital relief for green loans or other green assets. Instead, it presents arguments for and against this, and advises the Commission to investigate it further.The HLEG is a body of 20 private sector experts ...
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