Norwegian banks over-report how far portfolios are in line with EU Green Taxonomy, study finds

A new paper written by a political advisor and a sustainabilty banker attending Norwegian Business School BI concludes that the five largest Norwegian banks are not working in line with the EU taxonomy.

Harald Jacobsen, head of sustainabilty and board member at Kommunalbanken, and Edina Ringdal Wickholm, policy advisor to the Labour Party (Arbeiderpartiet) | Photo: John Trygve Tollefsen and Arbeiderpartiet

Harald Jacobsen and Edina Ringdal Wickholm were recently reunited at Norwegian Business School BI. The pair had previously worked together, and teamed up again to write a paper for the course "Green growth and competitiveness".

Their paper showed that Norway, which is not a member of the EU, is not equipped to handle the union's new taxonomy for green financing and investments – though the desire is there.

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