Таксономията на Европейския съюз и ролята й за банковия сектор
The European Union Taxonomy and its Role in the banking Sector

Author(s): Alie Borizanova
Subject(s): Politics / Political Sciences, Politics, Economy, Law, Constitution, Jurisprudence, Economic policy, Financial Markets, EU-Legislation, Green Transformation
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: EU Taxonomy; Banking sector; Sustainable finance; ESG regulation; Green transition
Summary/Abstract: The European Union Taxonomy represents a cornerstone of the EU’s sustainable finance agenda and the broader Green Deal framework. It establishes a unified classification system that defines which economic activities can be considered environmentally sustainable, thereby providing a common language for investors, financial institutions, and companies. This report examines the role and significance of the EU Taxonomy for the banking sector, analyzing both its regulatory foundations and its practical implications. The theoretical section outlines the origins, principles, and objectives of the Taxonomy, its legal basis, and its relationship with key EU policies such as the European Green Deal, the Sustainable Finance Disclosure Regulation (SFDR), and the Corporate Sustainability Reporting Directive (CSRD). Special emphasis is placed on the six environmental objectives and the “do no significant harm” principle, which ensure the consistency and integrity of the classification framework. The analytical section focuses on the impact of the Taxonomy on the banking sector, highlighting new reporting obligations, changes in risk management practices, the integration of ESG factors into credit and investment decisions, and the emergence of new green financial instruments. The report also discusses challenges related to data availability, compliance complexity, and the need for internal transformation within financial institutions. The conclusion stresses that the EU Taxonomy should be seen not merely as a technical classification tool but as a strategic framework driving structural change in the banking industry. It redefines the role of banks from traditional financial intermediaries to active facilitators of the transition toward a sustainable, low-carbon economy.

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