Can the climate transition be achieved without a truly sustainable taxonomy? Gas and nuclear energy were included in the European taxonomy on green finance at the beginning of 2022. This led to the European Commission being taken to court by the WWF in September of the same year.
In a press release issued on Thursday 11 July, the NGO presented a new tool for sustainable finance developed by the ‘Independent Science Based Taxonomy’ (ISBT). The tool is the result of collaboration between civil society organisations, academics and members of the scientific community, as well as other independent figures, says the WWF. The NGO believes that this internal organisation should make it possible to avoid political and commercial influences and, therefore, the risks of greenwashing.
“With a clear categorisation system, financial institutions can make informed decisions about where to allocate their money, and policymakers can design regulations that incentivise truly sustainable practices” notes the WWF. (Original version in French by Florent Servia)