Delegation of the European Union to China

IPSF report compares EU and China’s green taxonomies

Brussels, 08/11/2021 - 08:18, UNIQUE ID: 211108_4
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On 4 November 2021, on the occasion of the International Platform for Sustainable Finance (IPSF) Annual Event organised in the EU Pavilion at the COP26, the IPSF published the Common Ground Taxonomy report, along with the IPSF annual report and a report on sustainability disclosures.

In July 2020, the EU and China have initiated a Working Group (WG) on taxonomies co-chaired by both jurisdictions and open to all IPSF members and observers. The WG’s objectives were to undertake a comprehensive assessment of the existing taxonomies for environmentally sustainable activities, including to provide more clarity and transparency about the commonalities and differences in their respective approaches and outcomes. This work has become known as the IPSF “Common Ground Taxonomy”.

The Common Ground Taxonomy report, published on 4 November at COP26, is a technical comparison between the EU and China taxonomies. This first comparison exercise is limited to only some features of the EU Taxonomy, namely activities that make substantial contribution to climate change mitigation. We plan to take this important work forward by extending the comparison to other environmental objectives and eligibility criteria and to other IPSF partners’ taxonomies.

The report is a first step in terms of analysing the comparability and interoperability of taxonomies across jurisdictions, in line with the Roadmap of the G20 Sustainable Finance Working Group (SFWG).

Download the report:

https://ec.europa.eu/info/sites/default/files/business_economy_euro/banking_and_finance/documents/211104-ipsf-common-ground-taxonomy-instruction-report_en.pdf

 

About IPSF

The  International  Platform  on  Sustainable  Finance  (IPSF)  was  launched  on  18  October 2019.  Its members are public authorities in charge of developing environmentally sustainable finance policies in Argentina, Canada, Chile, China, Hong Kong Special Administrative Region of the People’s Republic of China (Hong Kong SAR of PRC), India, Indonesia, Japan, Kenya, Malaysia, Morocco, New Zealand, Norway, Senegal, Singapore, Switzerland, United Kingdom and the European Union.

The International Platform on Sustainable Finance is a forum for dialogue between policymakers, with the overall aim of increasing the amount of private capital being invested in environmentally sustainable investments. The IPSF offers a multilateral forum of dialogue between policymakers that are in charge of developing sustainable finance regulatory measures to help investors identify and seize sustainable investment opportunities that truly contribute to climate and environmental objectives.

More information:

https://ec.europa.eu/info/business-economy-euro/banking-and-finance/sustainable-finance/international-platform-sustainable-finance_en

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