The taxonomy was designed to address so-called greenwashing in financial markets

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Environmental lawyers from NGO ClientEarth have warned the European Commission that labelling some types of natural gas facilities as “green” investments in its upcoming sustainable finance rules would clash with EU laws and international commitments.

The EU unveiled, last April, its so-called Taxonomy Regulation – a classification system of economic activities considered as an “environmentally sustainable investment,” which aims to push private capital into transition projects.