- Publication date
- 3 August 2021 (Last updated on: 5 August 2022)
- Directorate-General for Financial Stability, Financial Services and Capital Markets Union
On 3 August 2021, the Platform on Sustainable Finance published a draft report on preliminary recommendations for technical screening criteria for the EU taxonomy.
The draft report prepared by the dedicated Platform subgroup, the Technical Working Group (TWG), is an important step in the Platform’s main mandate under the Taxonomy Regulation to advise the Commission on the development of the EU taxonomy, and in particular on the development of technical screening criteria (TSC) for the 6 environmental objectives as set out in the Taxonomy Regulation.
It is a working document by the Platform and contains preliminary technical screening criteria that do not represent a final view of the Platform.
It is neither an official Commission document nor an official Commission position. Nothing in this document commits the Commission nor does it preclude any policy outcomes.
The draft report focuses primarily on presenting a first set of priority economic activities and draft recommendations for associated substantial contribution and do no significant harm (DNSH) technical screening criteria in relation to the 4 non-climate environmental objectives covering water, circular economy, pollution prevention, and biodiversity & ecosystems. However, a small number of economic activities and corresponding draft recommendations for technical screening criteria related to the climate mitigation and adaptation objectives have also been included.
Based on the resources, workload and time available, the Platform TWG addressed a first set of economic activities per environmental objective in its first phase of the work. The proposed methodology for the selection and prioritisation of the activities is explained in detail in the draft TWG report.
It is important to note that an activity that is not included in this first batch of activities for the remaining four environmental objectives, for which the Platform will develop recommendations for technical screening criteria, may still be addressed as part of a second batch (Platform work starting after submission of the current batch of criteria). It is likely that the recommendations for additional activities and criteria included in that second batch would be addressed in a later update of the delegated act by the Commission. Thus, non-inclusion by the platform in the first batch of priority activities does not imply that the activity will not be considered for inclusion in the EU taxonomy.
Call for feedback
The Platform welcomed stakeholder feedback through a call for feedback, which ran from 3 August to 28 September 2021.
This call for feedback was part of ongoing work by the Platform on sustainable finance, which was set up by the Commission to provide advice on the further development of the EU taxonomy.
The purpose of this call for feedback by the Platform was to gather further evidence and feedback on the proposed draft recommendations for technical screening criteria. The draft criteria presented in the report are working documents of the Platform and do not represent a final view of the Platform. They are presented to gather feedback and evidence from a wider set of stakeholders, to improve the draft criteria and make them more robust and usable in view of the final report to be presented to the European Commission in November 2021.
This feedback process was not an official Commission consultation. The draft report produced by the Platform is not an official Commission document. Nothing in this feedback process commits the Commission nor does it preclude any policy outcomes.
The Platform on Sustainable Finance submitted its report with recommendations on technical screening criteria for the four remaining environmental objectives of the EU taxonomy in March 2022.
The Commission will analyse and consider the recommendations starting in view of the preparations for a delegated act containing activities and associated technical screening criteria for the remaining four environmental objectives and a few additional activities and according criteria for the climate objectives.
In the following video you can watch an explanatory webinar with Platform Chair Nathan Fabian (PRI), rapporteur Marzia Traverso (Aachen University) and co-rapporteur Ben Allen (IEEP).