Closing remark at Pre-COP31 Event: Bridging Taxonomies
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Carlos San Basilio closes a pre-COP31 event in Istanbul on the interoperability of green taxonomies, organised with the Turkish supervisor.
Key points
- Since 2020 Europe has accumulated €2.3tn in green bonds and €1.2tn in green loans; taxonomy-aligned bonds have risen from 1% (2020) to 36% (2025).
- The European green bond standard reached €60bn in 18 months (14% of green issuance in Q2 2026).
- He argues for simplifying sustainable finance frameworks without lowering standards and for mobilising private savings through the Savings and Investments Union.
- He calls for international cooperation to make taxonomies comparable.
Who is affected
Green bond issuers, ESG asset managers.
Plain-language version
The head of the CNMV, Spain's market watchdog, spoke in Istanbul about getting countries to agree on what counts as a green investment. Europe has already issued 2.3 trillion euros in green bonds, which are loans for eco-friendly projects. If every country uses different rules, it is easier to sell something as green when it is not.
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