One of the most common platforms for disclosing climate and the environment risks is called ESG — Environment, Social and Governance — which combines data on a wide range of issues to rank the sustainability of companies and products.

But without strict, uniform standards for reaching these rankings, ESG scores are difficult to compare and have been used to greenwash both business activities and financial products such as investment funds.

The taxonomy of the EU — and now Israel — aims to stop that.

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Israel gets set to press firms and investors to come clean on fossil fuels

Following EU lead with launch of list of criteria defining what is green, Israel aims to get finance, business sectors aboard to steer money and activities to fight climate change