The EU Commission has adopted several measures to increase its level of ambition on sustainable finance. First, the Renewed Sustainable Finance Strategy (RSFS) aims to channel more investment towards environmentally sustainable activities. Secondly, the EU Commission proposed a European Green Bond Standard (EUGBS), a voluntary standard to help scale up and raise the environmental ambitions of the green bond market. According to the EU Commission,

The proposed standard shall create a high-quality voluntary standard for bonds financing sustainable investment.

Finally, the EU Commission adopted a Delegated Act on the information to be disclosed by financial and non-financial companies about how sustainable their activities are, supplementing Article 8 of the EU Taxonomy Regulation (EU) 2020/852, which requires financial and non-financial companies to provide information to investors about the environmental performance of their assets and economic activities. The new Delegated Act specifies the content, methodology and presentation of information to be disclosed by large financial and non-financial companies on the share of their business, investments or lending activities that are aligned with the EU Taxonomy: According to the EU Commission’s press release, non-financial companies will have to disclose the share of their turnover, capital and operational expenditure associated with environmentally sustainable economic activities as well as any future delegated acts on other environmental objectives. Moreover, financial institutions, mainly large banks, asset managers, investment firms and insurance/reinsurance companies, will have to disclose the share of environmentally sustainable economic activities in the total assets they finance or invest in.