"Introduction to the EU Taxonomy on Biodiversity and Ecosystems"

This report points out examples the environmental objective of protection and resto- for economic activities in the agriculture sector fall- ration of biodiversity and ecosystems (and three ing in these categories and presents proposals made other objectives of the Taxonomy) into criteria upon by the TEG or environmental organisations for the which the sustainability of an investment is evaluated. [...] within the EU-Sustainable Finance Platform or to present in detail all issues involved in the develop- The ability of the Taxonomy to successfully guide ment of criteria, but to enable readers to follow and economic activities into a more sustainable direction engage in the ongoing development of the Taxon- is dependent on whether the criteria for being taxon- omy. [...] ecosystems The expansion of agriculture is the most important Article 15(1) of the Taxonomy Regulation establishes a driver of biodiversity and ecosystem decline and is framework for the definition for substantial contribu- responsible for 80% of the global deforestation. [...] • Green Budget Germany Introduction to the EU Taxonomy on Biodiversity and Ecosystems • Page 17 of 19 4 Conclusion and next steps The ambition level of points of reference and criteria highly impacts the overall effect of the Taxonomy. [...] It will be a critical task for readers and the non-govern- The Taxonomy has the opportunity to go beyond ex- mental community to accompany the development of isting political frameworks – like the CAP in the agri- the Taxonomy and make sure that the application cri- cultural sector.