The application of green and sustainable lending principles to the aviation industry has long been a source of controversy and confusion. At the heart of the matter is whether lending to an airline can ever be considered truly “green” and if not, then whether aviation could be considered a transitioning industry with lending practices supporting the move towards lower emissions. The lack of definitive criteria as to what constitutes green or sustainable financing in the context of aviation has led to the inability of airlines and lessors to access this kind of financing. This article considers whether the inclusion of aviation in the EU’s Taxonomy Regulation1 will facilitate the availability of green and sustainable finance products for the finance and leasing of aircraft.