- The Delegated Regulation establishes a classification of environmentally sustainable economic activities (‘taxonomy’) substantially contributing to the EU’s objectives on climate change adaptation and mitigation for investment purposes.
The Taxonomy Regulation requires the Commission to adopt Delegated Acts to establish technical screening criteria for determining under which conditions a specific economic activity is considered to contribute substantially to one or more of the EU’s environmental objectives while not causing significant harm to any of the other EU’s environmental objectives. This initiative represents the first Delegated Act setting out these economic activities and technical screening criteria, focusing on climate change mitigation and adaptation and building on the recommendations of the Technical Expert Group on Sustainable Finance (TEG). A second Delegated Act will be adopted in 2021 to set out corresponding activities and associated technical screening criteria in relation to the other four environmental objectives defined in the Regulation. The list of economic activities and their associated technical screening criteria will be expanded and updated over time by the Platform on Sustainable Finance that is expected to operate from autumn 2020 on. A separate Delegated Act in mid-2021 will complement the Regulation as regards the requirements for large undertakings to publish information on how and to what extent their activities align with the EU taxonomy.
To respond to the Consultation and for more information:HERE
Source: EU Commission