ASSESSMENTS ON THE EUROPEAN GREEN DEAL AND EU TAXONOMY

The sustainable development perspective, that left its mark on the 21st century, has significantly affected global economic policies and investment strategies. The linear economy approach, which left its mark on the process from the existence of capitalism to the 1970s, when environmental awareness increased, was completely interrupted by the economic contraction created by the Covid-19 process and left its place to circular economies. In this context, the European Green Deal published in 2019 is a circular economy roadmap that puts global environmental goals at the center of the economy and thus aims to increase the efficient use of resources. In the same year, the European Commission adopted the EU Taxonomy to integrate its financial system in line with its cyclical economic, social and environmental targets. EU Taxonomy aims to reveal environmentally compatible-incompatible activities in global financial markets with the rules it brings to EU financial market instruments. At the same time, Taxonomy aims to eliminate transaction costs, green laundering and information asymmetry caused by economic activities incompatible with sustainable cyclical activities.