In order to meet the European Green Plan climate and energy goals of the European Union, it is crucial to direct investments into sustainable projects and activities.

The financial system should be gradually adjusted to support the sustainable functioning of the economy. With that purpose in mind, it is necessary for the sustainable financing to become a common practice. In addition to that, the effect of financial products and services on sustainability should be taken into account. All this requires a common language and a clear definition of what is sustainable.

In order to achieve all of the above, the "Action Plan on Financing Sustainable Growth" called for the creation of a common system of classification of sustainable economic activities or "EU Taxonomy".

The EU Taxonomy is designed to support the transformation of the economy to meet the objectives of the European Green Plan, including the goal of climate neutrality by 2050. As a classification tool, it seeks to clarify to companies, capital markets and policy makers which economic activities are sustainable.