The Council has approved a new regulation aimed at promoting sustainable finance through the creation of a European green bond standard, which establishes uniform requirements for bond issuers seeking to label their environmentally sustainable bonds as "European green bonds". These bonds are intended to finance investments in green technologies, energy efficiency, resource efficiency, sustainable transport infrastructure and research infrastructure. European green bonds will adhere to the EU's sustainable activities taxonomy and will be accessible to global investors. The new regulation seeks to enhance consistency and comparability in the green bond market, benefiting both issuers and investors, as it allows issuers to demonstrate their support for genuine green projects aligned with the EU's sustainability criteria, thereby increasing investor confidence and reducing the risk of greenwashing. Additionally, the regulation introduces a registration system and supervisory framework for external reviewers of European green bonds. Also, to prevent greenwashing in the broader green bond market, the regulation includes voluntary disclosure requirements for other environmentally sustainable bonds and sustainability-linked bonds issued in the EU. All proceeds from European green bonds must be invested in economic activities that align with the EU's sustainability taxonomy, with a 15 % flexibility allowance for sectors not yet covered by the taxonomy.