UK will still deliver green taxonomy, Treasury official says

By Fiona Maxwell | 03/20/2024 12:06 PM EDT

A green taxonomy acts as a classification system that allows investors to see how environmentally sustainable an activity is, preventing issues like greenwashing.

A classification system for what counts as “green” will still be delivered despite delays, a senior U.K. Treasury official said.

Meghan Ormerod, head of HM Treasury’s multilateral unit, declined to give a timeline when pressed on the U.K.’s plans for a green taxonomy — which the government had previously said it would consult on by autumn 2023.

The government “expect[s] to consult shortly on that,” she told an online event today.

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A green taxonomy acts as a classification system that allows investors to see how environmentally sustainable an activity is, preventing issues like greenwashing and helping reach net-zero ambitions. The EU has finalized its taxonomy, but it has been beset by delays in the U.K.

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