Legal & Regulatory News

Council adopts unified EU classification system

On 15 April 2020, the Council of the EU adopted, at first reading, the proposed Regulation on the establishment of a framework to facilitate sustainable investment (2018/0178(COD)) which sets out an EU-wide classification system, or "taxonomy", which will provide businesses and investors with a common language to identify those economic activities which are considered environmentally sustainable (the "Taxonomy Regulation").

The Taxonomy Regulation now needs to be adopted by the European Parliament at second reading before it can be published in the Official Journal and enter into force.

Click here to access the press release.

Click here to access the proposed Taxonomy Regulation.