The European Parliament will vote on the establishment of a taxonomy framework to facilitate sustainable finance on March 28. The vote focuses on the core of the European Union’s sustainable financing agenda. The taxonomy determines what the European Parliament, as legislator, regards as sustainable.

With this letter, Triodos Banks joins a network of value-driven financial institutions that have all asked the members of the European Parliament to give their support and vote for a transparent and complete taxonomy.

The current state of the debate in the European Parliament is such that greenhouse gas emissions and other harmful activities can also be considered sustainable. A definition of "damage" is being postponed for the time being and the social consequences of investments are being ignored.

Many amendments are on the table in the run-up to the vote on 28 March. In his letter, Peter Blom lists the amendments that make taxonomy a transparent tool for the financial sector in selecting sustainable investments. A clear taxonomy will enable European citizens to make the necessary financial choices to secure a sustainable future for Europe.