Climateworks Centre’s Post

🌱It was great to attend the recent EU Sustainable Finance Days 2024 in #Madrid hosted by the European Commission! Connecting with green finance stakeholders was enlightening, and I gained insights into innovative tools for green financing and #publicprivatepartnership initiatives to enhance #SMEs access to #sustainablefinance. It's estimated that there is a staggering EUR 700 billion annual investment gap for the EU’s #greentransition, but the Sustainable Finance Framework aims to bridge this gap through sustainability disclosures, the EU Taxonomy, and a toolbox of labels, standards, and financial support - a crucial step towards a more inclusive and sustainable future for all. #EUFinance #SustainableFinance #InvestGreen

SUSTAINABLE FINANCE CONFERENCE - CALL FOR PAPERS The European Parliament and the Council have created a classification system of environmentally sustainable economic activities with the aim of scaling up sustainable investments and combating greenwashing of financial products that unduly claim to be sustainable. The European Parliament and the Council, complemented by Commission Delegated Regulation introduced environmental, social and governance (‘ESG’) disclosure requirements for benchmark administrators and minimum standards for the construction of EU Climate Transition Benchmarks and EU Paris-aligned Benchmarks. What was the impact of these decisions in the financial system? and in industry? We would like to hear from you! Call for Papers is open until the 30th of March. Networking opportunities for financial institutions and industry. Please get in touch. More information at: https://shorturl.at/cfjAD #sustainfinance #taxonomy #ESG #financialregulation #Lusíada #COMEGI

EU Sustainable Finance timelline ....even the legend is complex! It looks like the revised SFDR will not be disclosed (excuse the pun...) until summer 2025... which probably means 12 months from now. It will be interesting to see if the Taxonomy, due to the CSRD and revised SFDR, has a resurgence in relevance over the next 18 months

EU Taxonomy: A Blueprint for Sustainable Finance 🌱💼 The EU Taxonomy is shaping the future of green finance, helping investors and companies identify truly sustainable economic activities. With a focus on key environmental goals like climate change mitigation, circular economy, and healthy ecosystems, it's driving investment toward a low-carbon future. Want to align your business with the EU’s sustainable finance framework? Get expert guidance and resources to start your journey! 📧 Contact us at [email protected] ___________________________________________________________________________ #SustainableFinance #EUTaxonomy #GreenInvestment #CircularEconomy European Environment Agency European Commission European Investment Bank (EIB) European Central Bank European Chemicals Agency European Food Safety Authority (EFSA) International Energy Agency (IEA) AGORA European Green Deal - The non-profit arm of European Commons European Climate Foundation EKI Energy Services Ltd (EnKing International)

https://lnkd.in/dMfD9Wey Impact on companies and financial institutions <<The 'Fit for 55' package requires companies, especially those in carbon-intensive sectors, to reevaluate and modify their operations to align with stricter emission targets. On the other hand, the Sustainable Finance Plan, including the European green bond standard (EUGBS) and the EU Taxonomy amendment, will reshape how financial products are labelled as 'green' and how companies report on sustainability, setting a higher bar for environmental accountability.>> #ESG #fitfor55 #EUGBS #sustainability #audit #fiscal #budget #environment #greenbond #green #EUtaxonomy #business #EU

🌳Green taxonomies - challenges and opportunities🌳 Our Climate Lawyers Sarah Hill-Smith and Jasmin Fraser recently participated in a roundtable discussion on the challenges and opportunities presented by green taxonomies, held by the Centre for Climate Engagement in partnership with Clyde & Co. Following these discussions, the Centre for Climate Engagement has produced a Summary Report discussing the impact and evolution of green taxonomies on business and investment practices. ❓Why are green taxonomies important❓ Taxonomies are classification systems defining which economic activities are ‘green’ or ‘sustainable’. Creating a classification system can create clarity around terms to help channel investment into more sustainable activities. ❓What challenges are associated with green taxonomies❓ Technological development and litigation can create uncertainty within taxonomies, potentially impeding the clarity they aim to provide investors. A good example of this is the challenge against the inclusion of nuclear and natural gas in the EU Sustainable Taxonomy. There are taxonomies under development or operational in over thirty jurisdictions. The rise of green taxonomies across the world can lead to divergence and uncertainty. Differences between taxonomies include sectoral scopes, compliance (voluntary or mandatory), classification systems and methods of classification. This is especially of concern to global companies who risk being unaligned with differing taxonomies where they operate and can lead to increased compliance costs and regulatory burdens. ✨How should businesses approach these challenges The Summary Report notes that investors and businesses should remain vigilant to potential risks arising from changes within taxonomies or divergences between taxonomies. Stakeholders, including investors, consumers, and regulators, are increasingly vigilant about environmental claims. Companies would be prudent to assess their use of classifications and alignment with the specific criteria, ensure accurate and complete reporting, engage in continuous monitoring and compliance, and seek third-party verification where needed. 👇 See the Centre for Climate Engagement post for a link to the Summary Report

Green Taxonomies: Global guidelines for the green transition? Taxonomy, crucial for promoting sustainable business and investment, is highlighted in the G20 Sustainable Finance Roadmap and is a major element of the European Green Deal, where it classifies economic activities and assets as 'green' or sustainable. Green taxonomies facilitate investment by defining clear standards for what qualifies as sustainable, thereby setting benchmarks for environmental labelling in financial products, although implementing these standards is complex. This Summary Report explores the initial roundtable held by the Centre for Climate Engagement and Clyde & Co discussing the impact and evolution of green taxonomies on business and investment practices. This was the first in a series of three discussions on legal aspects of sustainable finance. 👉Read our Summary Report here: https://bit.ly/44vnbIv #ClimateAction #ClimateGovernance #LawforClimateAction #TransitionPlanning Nigel Brook Jasmin Fraser Catherine Higham Sarah Hill-Smith Richard Power Nick Scott Thomas S. Sofia Surraco Harro Van Asselt Hughes Hall, University of Cambridge

Green Taxonomies: Global guidelines for the green transition? Taxonomy, crucial for promoting sustainable business and investment, is highlighted in the G20 Sustainable Finance Roadmap and is a major element of the European Green Deal, where it classifies economic activities and assets as 'green' or sustainable. Green taxonomies facilitate investment by defining clear standards for what qualifies as sustainable, thereby setting benchmarks for environmental labelling in financial products, although implementing these standards is complex. This Summary Report explores the initial roundtable held by the Centre for Climate Engagement and @Clydeco discussing the impact and evolution of green taxonomies on business and investment practices. This was the first in a series of three discussions on legal aspects of sustainable finance. 👉Read our Summary Report here: https://bit.ly/44vnbIv #ClimateAction #ClimateGovernance #LawforClimateAction #TransitionPlanning

#SustainableFinance was identified as one of five priority growth opportunities for the UK in the Chancellor's Mansion House speech last night - which is very welcome. With concerns about greenwashing still running high, objective definitions of what counts as green remain important. The market will need to opine on whether a UK #greentaxonomy can do this - by responding to the 'value case' consultation that has just been published at https://lnkd.in/et_9Kui2 If deemed useful, the UK has an opportunity to lead in creating a streamlined and usable science-based taxonomy, building on and learning from what has gone before as per the advice of #GTAG. We know that there are significant concerns about the usability of the EU taxonomy - and that there has been a lot of interest in GTAG's work in Brussels. With a UK-EU relations reset cited as a priority by the UK Government, could harmonisation of sustainability standards be one area of cooperation to reduce market friction and promote sustainable finance and sustainable growth?

Green Taxonomies: Global guidelines for the green transition? Taxonomy, crucial for promoting sustainable business and investment, is highlighted in the G20 Sustainable Finance Roadmap and is a major element of the European Green Deal, where it classifies economic activities and assets as 'green' or sustainable. Green taxonomies facilitate investment by defining clear standards for what qualifies as sustainable, thereby setting benchmarks for environmental labelling in financial products, although implementing these standards is complex. This Summary Report explores the initial roundtable held by the Centre for Climate Engagement and @Clydeco discussing the impact and evolution of green taxonomies on business and investment practices. This was the first in a series of three discussions on legal aspects of sustainable finance. 👉Read our Summary Report here: https://bit.ly/44vnbIv #ClimateAction #ClimateGovernance #LawforClimateAction #TransitionPlanning