News Snapshot:
The PBOC says the common taxonomy will help promote China-EU green investment and financing cooperation and cross-border activities, while reducing the cost of green certification. The PBOC (People’s Bank of China) has announced the completion of the initial phase of a project with the European Commission to establish a common taxonomy for sustainable finance. The project was initiated in July 2020, following which the IPSF (International Platform for Sustainable Finance) established a working group to compare China’s catalogue of green bond-supported projects and the EU’s sustainable finance classification scheme. The PBOC and European Commission served as co-chairs for the working...
