The report proposes the content of a draft EU-GBS (see Chapter 3 and Annex 1), explains its purpose, sets its ambition level, and explains how we think the creation of this EU-GBS will address barriers to market development (see section 3.1) and will support its role in channeling substantial financial flows to Green Projects. The report also provides guidance to the European Commission on the proposed way forward for the EU-GBS, including the creation of a centralised accreditation scheme for external verifiers (see Chapter 4 and Annexes 5 to 7). Last but not least, the report elaborates on possible incentives (see Chapter 5), based on the EUGBS, to enhance the growth of green bond issuance and the links with other sustainable financing instruments in a wider context (see Chapter 6). The EU-GBS should also feed into the work being launched in parallel by the European Commission on a potential EU Ecolabel for financial products.[…]