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The EU Taxonomy is a mechanism that aims to accelerate the European energy transition to a low-carbon economy. It is the foundational system on which to classify an activity as ‘sustainable’ for the next steps of the initiative that relate to reforming the financial system and public and private investment practices. Partner Andy Moody and Associate and member of the Baker McKenzie Brussels Energy Group William-James Kettlewell discuss the impact of the EU Taxonomy mechanism on businesses that are active in the energy and renewables sectors.
