On 28 March 2019, the EU Parliament voted on the green EU taxonomy, while the Council has not taken a position yet. This cepAdhoc presents and evaluates the Parliament's position.
Like the Commission, Parliament misinterprets the existence of different taxonomies and labels as a sign of market failure and not as a consequence of the fact that there is no objective or common understanding of 'sustainability'. On the positive side, however, the Parliament refrains from a binary approach to sustainability, according to which activities are either sustainable or not. cep also welcomes the decision that the taxonomy does not apply to financial products that explicitly "do not pursue sustainability objectives".