EU Taxonomy Alignment Case Study: BlackRock

BlackRock evaluated the means to assess the Green Bond market’s eligibility for EU Green Bond Standards (GBS). The EU GBS are designed in coordination with the EU Taxonomy for sustainable activities. Principles, criteria and thresholds were considered in the context of an Investment Grade Global Green Bond Index by utilizing the NACE codes for High Impact Sectors which are of the EU Taxonomy Design as well as proceeds mapping and Black Rock Green Bond ratings. 25% of the existing Green Bond Global Investment Grade market was found to be eligible using NACE coding associated with turnover with at least 50%-60% of Use of Proceeds is aligned with the EU Taxonomy.