24/04/2018 (Agence Europe) – On Tuesday 24 April, the members of the committee on economic and monetary affairs of the European Parliament adopted, by a sizeable majority (42 votes to 9 with 3 abstentions), the own-initiative report by Molly Scott Cato (Greens/EFA, UK) on sustainable finance (see EUROPE 11966). The MEPs call for the European Commission's future proposals to establish truly 'green' standards, not only to encourage investors to turn to more sustainable investments, but also to discourage them from continuing to invest in non-sustainable finance. They also call upon the Commission to launch a multi-party process with a view to establishing a coherent green taxonomy by the end of 2019, including a green finance rating, by means of a legislative initiative. The Commission's first specific proposals, announced in its action plan (see EUROPE 11977), are expected for May. (MF)