Greenberg Traurig I EU Green Bonds: One Step Closer to a New Standard for Sustainable Bonds

To prevent “greenwashing”, the EU Commission proposed a new regulation that creates standards for EU Green Bonds (EuGBs). On 28 February 2023, the EU Council and Parliament reached a provisional agreement on the requirements for EuGBs. Under the agreement, the proceeds of these bonds must be invested in economic activities in line with the EU Taxonomy Regulation (which provides a definition of an “environmentally sustainable investment”). The agreement allows for flexibility (for up to 15% of bond proceeds) for sectors not yet covered by the EU Taxonomy Regulation and other specified activities. Read more. Compliments Greenberg Traurig