EU reaches deal on classifying green financial products

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FILE PHOTO: Member of the European Greens party Bas Eickhout campaigns for the European Elections in Budapest, Hungary May 3, 2019. Gabor Banko/LMP/Handout via REUTERS

BRUSSELS (Reuters) – The European Union has reached a deal on classification rules on financial products to define what instruments can be defined as “green” and “sustainable”, an EU lawmaker has said.

“We bring clarity to the market (on) what green financing means and can be. (Has) to be agreed by the two co-legislative institutions of course, but satisfied with the compromise!” Green EU lawmaker Bas Eickhout tweeted on Thursday.

Reporting by Jonas Ekblom and Francesco Guarascio; Editing by Susan Fenton

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