On 3 June 2022, the International Platform on Sustainable Finance (IPSF) updated the Common Ground Taxonomy (CGT) Instruction Report and the CGT Table of Activities. The updates follow an earlier consultation that the IPSF ran last year.
The CGT is based on the activities currently included in both the adopted EU taxonomy for sustainable activities and China green finance taxonomy. It follows a systematic methodology that maps common activities and then compares the technical criteria defining when these activities make a substantial contribution to climate change mitigation. If the assessment revealed areas of overlaps, they are included in the CGT. If not, they are excluded.
The IPSF published in November 2021 a version of the CGT and launched a call for feedback from stakeholders until mid-January 2022. The version now published is an updated version of the CGT, which incorporates the feedback received and includes additional activities (e.g. manufacturing and building activities) that were not covered in the initial version. The current version of the CGT covers 72 climate change mitigation activities that share common ground for both the EU and China taxonomies with regard to the “substantial contribution” criteria.