October 2019
The EU has played a leading role in the development of international climate and sustainable development policy, with a commitment to international agreements such as the UN Framework Convention on Climate Change (UNFCCC), the UN Convention on Biological Diversity (UNCBD), UN Convention to Combat Desertification (UNCCD), Sustainable Development Goals (SDGs), the Paris Agreement on climate change, the Sendai Framework for Disaster Risk Reduction and the Kigali Amendment to the Montreal Protocol.
The EU Taxonomy enables capital markets to identify and respond to investment opportunities that contribute to environmental policy. This is important for practical, disclosure-based regulation inform financial decision making and enable market participants to respond to the EU’s goals for financing sustainable growth. To accomplish these goals the EU directive requires establishing a taxonomy on sustainable economic activities, disclosure requirements related to sustainability risks and opportunities.
By leveraging the TEG on Sustainable Finance taxonomy, RIXML.org will evaluate the opportunity to collaborate with sell-side firms to drive an EU Classification schema to create a cohesive strategy. RIXML Executive Director James Ulrich wants to thank Weiyee In for his insight.