So far, the applications of the Taxonomy are purely for transparency and disclosure purposes. Professional investors and regulators instead rely on more advanced and context-specific metrics, such as their own ESG methodologies and cockpits.Therefore, the controversial Taxonomy classification of gas and nuclear power will not have a major impact. Green finance policies are no substitute for restrictive environmental regulations such as cap-and-trade schemes or outright prohibitions of certain activities
EconPol Forum Climate Change: Greening the Economy by Green Finance?, Vol. 24, Issue 1, pp. 17-22,
2023