The European commission welcomed the political agreement between the European parliament and the European council on the creation of the world’s first-ever “green list” – a classification system for sustainable economic activities, or taxonomy.The taxonomy will create a common language that investors can use everywhere when investing in projects and economic activities that have a substantial positive impact on the climate and the environment. The commission said it will help scale up private and public investments to finance the transition to a climate-neutral and green economy, redirecting capital to economic activities and projects that are truly sustainable.