EU to pause work on climate-friendly investment guide
LONDON, Jan 25 (Reuters) - The European Commission will take more time to finalise its "taxonomy" or guide for people that want to invest in climate-friendly assets and to cut carbon emissions, its financial services chief said on Monday.
Mairead McGuinness said the EU executive has received 46,000 replies on its template for fleshing out a law on taxonomy that it due to come into practical effect in 2022.
It sets out a system for classifying what activities may and many not be deemed to be sustainable in climate terms.
"It would be useful to take a step back to look at what that is what it is not," McGuinness told the European Parliament.
The first batch of measures to implement the taxonomy needs to be delayed given that it goes further than some existing legislation and EU policy, she said. (Reporting by Huw Jones; Editing by David Gregorio)
