Climate Risk and Sustainable Finance

The European Union Sustainable Finance Taxonomy:

Implications for Canada

Peter van Dijk, Executive in Residence, Global Risk Institute


 

The European Union Sustainable Finance Taxonomy has arrived! What is it, and why should Canada care?

The European Union (EU) Sustainable Finance Taxonomy is a game-changer. It is the first comprehensive, science-based classification system creating a common language for sustainable investments. Canadian companies, institutional investors and governments should consider adopting the EU Taxonomy in an effort to attract the vast amounts of capital required to convert our high-carbon economy into a low-carbon economy and to meet our commitments under the Paris Agreement. This paper provides a brief overview of the EU Taxonomy and rationale for why Canada should embrace it.

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