It can encourage greenwashing if the Canadian government adopts an official definition stating that a certain project is green when the science says it's something else. That would cause credibility issues for any taxonomy that would endorse certain activities that aren't green or subject to a consensus.
You can afford to err on the side of caution in this field, even knowing that you won't be preventing financing for activities that are neither green nor transitional. At least you won't be labelling them as such or affording businesses the additional benefit of a “green bonus” associated with a green bond, for example.