Meeting the EU’s climate and energy targets for 2030 and reaching the objectives of the European Green Deal, require defining a language and a clear definition of what is “sustainable” common to companies, investors and policymakers, in order to direct investments towards sustainable projects and activities.
For this purpose, a Taxonomy Regulation entered into force on 12 July 2020. To further develop the EU taxonomy, a “Platform on sustainable finance” is tasked with advising the European Commission. The Commission is also currently preparing an IT tool that will facilitate the use of the taxonomy.
In this context the session is dedicated to take stock on these initiatives and highlight related challenges in order to identify possible short and middle term priorities to further leverage such common language in implementing EU sustainability transition in the global context.
Points of discussion
- What are the main features of the EU taxonomy, its timetable and planned evolutions?
- How to address the diverse data challenges posed by the implementation of the EU taxonomy e.g., the lack of adequate or granular enough available data; the complexity and consistency of data, a tight implementation timeframe etc.? What is the role of the IT tool being developed by the EU Commission in this context?
- How to facilitate the adoption of the taxonomy by SMEs and Small and Mid-Caps? How to achieve ”regulatory proportionality” and provide them with the necessary support?