Efforts to water down proposed new rules on which financial investments can be labelled environmentally sustainable have been blocked by the European Parliament. A week after 100,000 people said they wanted the EU’s proposed ‘taxonomy’ law to ban greenwashing across the whole finance industry, negotiations between MEPs, EU governments and the European Commission broke up this evening. National officials had tried to include so-called ‘transition’ businesses that are not currently green, as well as sectors which ‘enable’ green technologies, such as the production of steel for train tracks.
