A coalition of experts and NGOs, the Observatory Against Greenwashing, launched its Independent Science-Based Taxonomy. The initiative aims to bring clarity to investors after the European Union (EU) labeled gas-fired power, nuclear, the burning of trees, intensive logging, and other harmful activities as "sustainable" in the EU Taxonomy.
The Independent Science-Based Taxonomy duplicates the EU Taxonomy’s criteria to categorize economic activities wherever they are robust. It differs only when the criteria are not rooted in science or harmful to the environment. The Independent Science-Based Taxonomy will gradually extend the Taxonomy framework and update the criteria every 3 to 5 years to reflect technological, scientific, and legislative developments.
The first version of the Independent Science-Based Taxonomy relies on a preliminary assessment of the EU Taxonomy by a Technical Expert Group (TEG). However, the TEG will continue to carry-out further technical analysis to refine the criteria for a science-based Taxonomy.
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