Green Finance Institute calls for single taxonomy

The Green Finance Institute is concerned that there are now over 30 taxonomies either finalised or under discussion, and that this “regulatory proliferation” is undermining efforts to promote cross-border green capital flows and investments in green assets – and so is making it more difficult and costly for investors to invest in green assets rather than less. It calls on the UK to develop a UK taxonomy that takes into account cross-border investing and works to achieve international harmonisation so far as possible. Among the recommendations are to complement the EU taxonomy so far as possible, to streamline language and requirements to maximise interoperability with non-EU jurisdictions and to conduct 3-yearly reviews.  For the USA and non-taxonomy OECD countries, it suggests guidance to encourage reporting on a voluntary basis against the the UK Green taxonomy

Emma Radmore