Under the Taxonomy Regulation, the Commission had to come up with the actual list of environmentally sustainable activities by defining technical screening criteria for each environmental objective through delegated and implementing acts. The protection and restoration of biodiversity and ecosystemsĭifferent means can be required for an activity to make a substantial contribution to each objective.CSCCU offers a large variety of Share/Savings Accounts. The sustainable use and protection of water and marine resources Since 1934, Cornerstone Community Credit Union has been helping members meet their financial needs.Reconcile your accounts easily and accurately. Start a private Conversation with CCF representatives 24/7. Turn your debit card on and off in case of theft or loss. The Taxonomy Regulation establishes six climate and environmental objectives Online Banking provides all the tools you need to manage your money on your watch. It establishes the basis for the EU taxonomy by setting out 4 overarching conditions that an economic activity has to meet in order to qualify as environmentally sustainable. The Taxonomy Regulation was published in the Official Journal of the European Union on 22 June 2020 and entered into force on 12 July 2020. In this way, it plays an important role helping the EU scale up sustainable investment, by creating security for investors, protecting private investors from greenwashing, helping companies become more climate-friendly and mitigating market fragmentation. The EU taxonomy allows financial and non-financial companies to share a common definition of economic activities that can be considered environmentally sustainable. This is why the action plan on financing sustainable growth called for the creation of a common classification system for sustainable economic activities, or an “EU taxonomy”. To achieve this, a common language and a clear definition of what is ‘sustainable’ is needed. In order to meet the EU’s climate and energy targets for 2030 and reach the objectives of the European green deal, it is vital that we direct investments towards sustainable projects and activities. It is a classification system that defines criteria for economic activities that are aligned with a net zero trajectory by 2050 and the broader environmental goals other than climate. The EU taxonomy is a cornerstone of the EU’s sustainable finance framework and an important market transparency tool that helps direct investments to the economic activities most needed for the transition, in line with the European Green Deal objectives.
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