EU Delays Sustainable Finance Classification Rules To 2022

Law360, London (September 25, 2019, 1:23 PM BST) -- European Union governments gave the green light on Wednesday to plans to create a bloc-wide classification system of sustainable finance products — but have delayed the proposed implementation date by two years until 2022.

The Council of the European Union nodded through the European Commission’s plans to establish a unified categorization of sustainable economic activities, which would set out the criteria for labeling investments as “green." The proposals will now be negotiated in Parliament.

The Commission’s proposals — which it had planned to implement in 2020 — would create a “taxonomy” of investments and financing activities that are considered to promote...

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