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With its so-called taxonomy, the European Union is planning an economic structure whose drastic consequences for productivity and prosperity are only gradually becoming apparent. The EU taxonomy is a classification system that creates a list of environmentally friendly economic activities. It is part of the EU’s Green Deal, which aims to achieve environmental goals such as combating climate change, reducing pollution, and protecting biodiversity. It is the basis for numerous regulations designed to push sustainable business practices. Since the financing requirements are high, it mobilizes both public funds and private capital. Prof. Dr. Gunther Schnabl analyzes its implications in his following blog.