Defining “Green” in the Context of Green FinanceBack
This report presents an overview and analysis of worldwide efforts on defining “green” for green finance products, including green bonds, lending and listed equity. It describes the means and scope for identifying green assets and activities through conceptual definitions, taxonomies, ratings methodologies and other mechanisms. Its preliminary findings are intended to feed into the work of the EU High-Level Expert Group on Sustainable Finance.
The study suggests policy actions that the European Commission could consider in order to support the development of “green” definitions, and align the global financial system with EU policies that support sustainable development and reduce environmental risks. It also discusses the possible implications of such actions.
The findings of the study are based on data collected through literature review, interviews and a survey with stakeholders of the European and International financial community, including asset owners, asset managers and others. The study is complemented by a list of available “green” definitions, descriptions and assessments of selected definitions, as well as a comparison of available green sectoral taxonomies.
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