Introduction
On 23 October 2023, the Council of the European Union (the
Council) adopted in first reading the regulation
on European green bonds standards (the EU GB
Regulation)1. This formal adoption ends a
two-year process, from the European Commission (the
EC)'s initial proposal on 6 July 2021 to the
provisional agreement reached with the European Parliament (the
EP) on 28 February 2023, which was formally
adopted by the EP on 5 October 2023.
Within those two years, interest in sustainable investments
significantly increased and sustainable-related financial products
has reached an impressive number, answering investors' demand
and regulation compliance. Consequently, the initial proposal has
undergone significant changes to adapt to the current state of play
of the EU financial market.
