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EU may "recalibrate" climate-friendly investment guide

(Reuters, 25 Jan 2021) The EU Commission may change its guide for people that want to invest in climate-friendly assets after a huge public response.

The European Commission may recalibrate its planned "taxonomy" or guide for people that want to invest in climate-friendly assets after a huge public response, its financial services chief said on Monday.

Mairead McGuinness said the EU executive has received 46,000 replies to a public consultation on its template for fleshing out a law on taxonomy that it due to come into practical effect in 2022.

It sets out a system for classifying what activities may and many not be deemed to be sustainable in climate terms to help the shift to a low carbon economy.

"It would be useful to take a step back and to look at what the taxonomy is, and what it is not," McGuinness told the European Parliament.

"It's not a mandatory list of activities that investors have to invest in," she added.

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Reuters, 25 Jan 2021: EU may "recalibrate" climate-friendly investment guide

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