Triodos Bank voices concern about EU Taxonomy Delegated Act

Triodos Bank has voiced substantial concerns about the European Commission’s draft Delegated Act on the EU Sustainable Taxonomy in its feedback on the proposal.

While Triodos Bank recognises that the draft has taken into account the recommendations of the Commission’s Technical Expert Group (TEG) on the climate taxonomy to a large extent, it ignores or weakens the TEG’s scientific advice for several activities. As a values-based bank established in 1980 to finance positive impact business models, Triodos Bank is a strong supporter of an EU sustainable taxonomy rooted in climate and environmental science.

In its feedback, Triodos Bank outlines the areas which need to be revised to produce a taxonomy that is based on scientific evidence, fully supports sustainable economic activities, accelerates the shift from unsustainable to sustainable activities, and truly reduces the risk of greenwashing. In addition, Triodos Bank strongly supports the development of a taxonomy of harmful activities, which is crucial to reliably identify risky sectors and accelerate their transition.

Read the full feedback here.