The European Commission launched a consultation (to run until 2 October 2020) on the establishment of an EU Green Bond Standard (GBS). The Commission's Technical Expert Group on sustainable finance (TEG) published its first report with 10 recommendations for the establishment of such a standard based on an EU-wide taxonomy for sustainable investments in June 2019. In March 2020, it provided further guidance and updated its proposed standard. The current consultation builds on the TEG’s work and focuses on the added value of an official EU GBS. A decision on this will be taken within the Renewed Sustainable Finance Strategy, for which there is an ongoing consultation until July 15. This strategy is expected to be finalised in Q4 2020.