29. 09. 2025
Author: Zuzana Novotná
GreenGov: A guide to green financing for better regional governance
The GreenGov project (Interreg Europe) assists European regions and municipalities in better understanding and implementing the EU taxonomy of sustainable activities and the "Do No Significant Harm" (DNSH) principle, which states that no support should significantly harm the environment. The aim is to direct public investment towards projects that support climate goals and long-term sustainability.
As part of the GreenGov project, we are connecting key players from universities, the South Moravian Region, and research institutions, such as CzechGlobe, to identify specific ways to incorporate the principles of Do No Significant Harm (DNSH) and Climate Proofing into regional practice. We emphasize the importance of supporting cooperation and strengthening the region's capacity in sustainable financing.
In September 2025, we organized a meeting of local stakeholders, during which we discussed the first project outputs and their connection to the South Moravian Region Climate Action Plan. We shared experiences and identified the main challenges and opportunities that implementing these principles brings. In the final discussion, we focused on the challenges and opportunities facing the region and universities, and explored ways to cooperate in the future.
Benefits of the GreenGov project
GreenGov is developing a common process and methodology that will enable regions to incorporate green financing into their strategies and budgets. This includes green budgeting, frameworks for issuing green bonds, and other innovative financial instruments. The aim is to ensure that public funds support measures with a positive impact on the climate and quality of life as much as possible.
For the South Moravian Region, participation in the project represents an opportunity to:
- learn how to use the European framework for green finance in practice,
- improve climate-conscious public finance management,
- pave the way for innovative investment instruments (e.g., green bonds),
- share experiences with other European regions, and gain know-how for the effective implementation of climate strategies.
Taxonomy of sustainable activities
The taxonomy of sustainable activities is a European unified classification system (green dictionary) that determines which economic activities can be considered environmentally sustainable. It was created within the European Union (EU Taxonomy) to provide investors, companies, and public administration with clear and comparable rules.
Main principles:
- An activity is sustainable if it contributes significantly to at least one of the six EU environmental objectives (e.g., climate change mitigation, climate change adaptation, water protection, circular economy, pollution prevention, biodiversity protection).
- At the same time, it must not significantly harm any of the other objectives (the Do No Significant Harm – DNSH principle).
- It must also meet minimum social and administrative guarantees (e.g., human rights, labor standards).
The taxonomy of sustainable activities is important because it helps distinguish between what is truly a "green" investment and what is merely greenwashing. Thanks to clear rules, it directs private and public finances to projects that support the European Union's climate goals. At the same time, it serves as a practical tool for municipalities and regions, enabling them to prepare projects and grant applications with confidence, knowing that their plans comply with European standards.
Project partners
A total of 11 partners, plus one associated institution (the policy authority), are involved in the GreenGov project.
Ile-de-France (France) – lead partner
A total of 11 partners, plus one associated institution (the policy authority), are involved in the GreenGov project.
Ile-de-France (France) – lead partner
- Lisbon Metropolitan Area (AML), Portugal
- Lombardy Region, Italy
- Poliedra (Italy) – research/consultancy organization involved in the project
- Brussels-Capital Region, Belgium
- South-West Oltenia Regional Development Agency, Romania
- Nord-Vest Regional Development Agency, Romania
- Niedersächsisches Ministerium für Bundes- und Europaangelegenheiten und Regionale Entwicklung (Lower Saxony, Germany)
- South Moravian Agency for Public Innovation JINAG (Czech Republic)
- Regional development agencies in Ukraine, specifically for the Mykolaiv and Kyiv regions
The Kyiv Regional State Administration serves as an associated institution, a policy-making body linked to the regional administration.
The GreenGov project is funded by the Interreg Europe program.