On 18 June 2020, the Taxonomy Regulation for climate change mitigation and adaptation was published in the EU Official Journal, meaning to be adopted by March 2021.
The EU taxonomy for sustainable activities is a classification system established in the context of the EU Green Deal to clarify which investments are environmentally sustainable. Within this framework, the Eu Platform on Sustainable Finance was established, with the mandate to:
- Advise the Commission on technical screening criteria;
- Advise the Commission on review of the Taxonomy Regulation;
- Monitor and report on capital flows towards sustainable investments;
- Advise the Commission on sustainable finance policy more broadly
Given that a Call for feedback was launched by the EU Platform on Sustainable Finance with the aim of receiving proposals on how to extend the taxonomy to social objectives, and feeling that we have much to say on these issues, we submitted our proposal, completing it with our new position paper on “Social Taxonomy for Sustainable Finance”, that you can find here.
In the position paper we analyse the EU social taxonomy proposal, reconsidering some crucial aspects, and giving recomendations to make it a more effective and inclusive regulation for all in Europe. Indeed, we strongly believe that failing social taxonomy would backfire on green transition.
Have a look at:
> Call for Feedbacks of the European Commission published by the EU Platform on Sustainable Finance
Position Paper on Social Taxonomy for Sustainable Finance (by PlusValue)