UK Abandons Green Taxonomy Plan to Focus on Other Policies

The UK will not create its own framework for sustainable investments, abandoning years of work to focus on other green policies.

Britain’s government has not found sufficient evidence that a so-called taxonomy would help stop greenwashing and channel investments to more sustainable economic activities, it said in a consultation document published Tuesday. Instead, the UK said it would focus on sustainability reporting standards and corporate transition plans.

Such taxonomies, which classify what a government deems to be “green,” have spread across the globe, though they’ve also faced pushback from companies and investors due to their complexity. The UK’s taxonomy ...