Environmental assessments and sustainable finance frameworks: will the EU Taxonomy change the mindset over the contribution of EIA to sustainable development?

Environmental Assessment is a globally mandated tool for helping to deliver sustainable development, yet decision makers frequently use it legitimise trade-offs between socio-economic gains and environmental losses. As result, assessment criticised its inability prevent incremental degradation. However, new frameworks stipulating what can be deemed as ‘sustainable investment’ or economic activity’ financing under finance are being developed. These known taxonomies of investments, they have the potential radically change outcomes making, based on ‘significant contribution’ ‘do no significant harm’ approach critical components. We illustrate how mindset development expectations associated with policy tools like assessment. Further, we demonstrate that emerging benefit from integration existing systems. Conversely, an appropriate investments in systems further strengthen EA allow them better address sustainability priorities 21st century.