Article 4 obliges Member States and the Union to apply the criteria for environmentally sustainable economic activities set out in Article 3 for the purposes of: (a) any measure setting out requirements for financial market participants or issuers in respect of financial products / corporate bonds that are made available as environmentally sustainable; (b) the EU Green Bond Standard (Regulation (EU) 2023/2631 EuGB Regulation) and its labelling requirements. Article 4 creates the legal anchor connecting the Taxonomy criteria to the broader EU sustainable finance product-labelling regime: EU GBS-issuer of a bond labelled as European Green Bond (EuGB) must allocate at least 85% of the proceeds to Taxonomy-aligned economic activities; the remaining 15% can be allocated to activities pending TSC publication subject to a 'do no significant harm' commitment.
The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.