16/04/2020 (Agence Europe) – On Wednesday 15 April, as a result of the exceptional circumstances linked to Covid-19, the Council of the EU adopted by written procedure its position at first reading with respect to the regulation that lays the foundation for the taxonomy of sustainable finance (see EUROPE 12392/14). After rejecting an initial compromise text at the European Parliament (see EUROPE 12388/16), Member States finally gave their assent to the text on 18 December last year (see EUROPE 12393/20). The Regulation now has to be adopted by the European Parliament at second reading before it can be published in the Official Journal and enter into force. The taxonomy on climate change mitigation and adaptation is expected to be in place by the end of the year, so that it can be fully implemented by the end of 2021. (MF)