The European Commission (“the Commission“) is asking for feedback on its new EU taxonomy initiative.
By way of background, the EU has created a classification system (or ‘taxonomy’) for environmentally sustainable economic activities, including investments. Large listed companies, banks and insurance companies will be required to publish information on how, and to what extent, their activities align with those considered environmentally sustainable in the EU taxonomy. This will, the Commission says, enable investors to make informed choices and will encourage private investment in sustainable activities.
The feedback period will close on 08 September 2020 (midnight Brussels time).
Feedback received will be taken into account for the further development of the initiative. The Commission will also summarise the input received in a synopsis report explaining how the input will be taken on board and, if applicable, why certain suggestions cannot be taken up.