EU Platform for Sustainable Finance Calls for Feedback on a Social Taxonomy

Published 17 August 2021

PrintCategory: Impact and ESG

The EU Platform on Sustainable Finance has published its draft reports on the merits and potential design of a social taxonomy:

  • report on a social taxonomy
  • report on taxonomy extension options linked to environmental objectives

The aim of the social taxonomy is to enable investors to identify and allocate capital towards economic activities that are socially sustainable and make significant contributions to human rights objectives.

The Commission calls the reports important steps in the Platform’s deliverables to advise the Commission on potential extensions of the taxonomy framework beyond environmentally sustainable activities. The Platform’s advice on this will feed into the Commission’s report on describing the provisions that would be required to extend the scope of the Taxonomy Regulation, to be adopted by the end of 2021.

The EU Platform on Sustainable Finance is an advisory body assisting the Commission in the development of its sustainable finance policies, including on the development of an EU taxonomy. The Platform welcomes stakeholder feedback on the draft reports until 27 August 2021.

Tags:  Sustainability


Also tagged ‘Sustainability’

21 May 2024Impact and ESGUpdates

Summary report of the consultations on the implementation of SFDR

The European Commission initiated in September 2023 public and targeted consultations on the implementation of the SFDR running until 22 December 2023. A summary of the contributions on the consultations have now been published in a summary report.

Disclosure RequirementsRegulatory Technical StandardsSustainability
13 May 2024Impact and ESGUpdates

The Danish FSA: Investment Managers must be better at disclosing sustainability related information

The Danish Financial Supervisory Authority has in a thematic review assessed several sustainability related issues at two investment managers.

Disclosure RequirementsSustainability
7 May 2024Impact and ESGUpdates

Invest Europe GP ESG Due Diligence Guide

Invest Europe has published a revised GP ESG Due Diligence Guide. It provides guidance on how ESG factors can be incorporated into general partner’s management and decision-making processes.

Sustainability
2 May 2024ArticlesImpact and ESG

The Danish implementation of CSRD has been adopted

Today, 2 May 2024, the Danish Parliament adopted the final legislative proposal to implement the Corporate Sustainability Reporting Directive (“CSRD”) into Danish legislation.

Sustainability
24 Apr 2024Impact and ESGUpdates

Final approval by the EU Parliament of the Corporate Sustainability Due Diligence Directive

Today, 24 April 2024, the Corporate Sustainability Due Diligence Directive (“CSDDD”) received the final green light from the European Parliament.

Sustainability
22 Mar 2024Impact and ESGUpdates

News regarding the Corporate Sustainability Due Diligence Directive

15 March 2024, the Committee of the Permanent Representatives of the Governments of the Member States to the European Union (“COREPER”) endorsed the Corporate Sustainability Due Diligence Directive (“CSDDD”) taking the directive one important step closer to finalizing the legislative process.

Sustainability
13 Mar 2024Impact and ESGUpdates

ESG KPI report 2024 by Invest Europe

Invest Europe has published an ESG KPI report covering data from 2022. Compared to their first edition published last year (covering data from 2021), which we touched upon in our previous Pulse update, there has been a 60% increase in the number of firms covered by the survey.

Sustainability
13 Mar 2024Impact and ESGUpdates

Exposure Drafts on sustainability reporting standards for SMEs

The European Financial Reporting Advisory Group (“EFRAG”) has launched a public consultation on the Exposure Draft European Sustainability Reporting Standards for listed SMEs (“ESRS LSME ED”) and the Exposure Draft for the voluntary reporting standard for non-listed SMEs (“VSME ED”).

Sustainability
21 Feb 2024Impact and ESGUpdates

Draft guidelines on Enforcement of Sustainability Information out for consultation

The European Securities and Markets Authority (“ESMA”) has sent draft Guidelines on Enforcement of Sustainability Information (“Guidelines”) out for consultation.

ESMASustainability
19 Feb 2024Impact and ESGUpdates

Final Report with amendments for RTS

The European Supervisory Authorities (EBA, EIOPA and ESMA) (together ESAs), published a Final Report with proposed amendments to the Commission Delegated Regulation (EU) 2022/1288 and the Regulatory Technical Standards (RTS) in December 2023.

Disclosure RequirementsESMARegulatory Technical StandardsSustainability
22 Jan 2024Impact and ESGUpdates

Changes to the SFDR RTS proposed by ESA Final Report

The European Supervisory Authorities (EBA, EIOPA and ESMA) (together ESAs), published a Final Report with proposed amendments to the SFDR Delegated Regulation (Regulation (EU) 2022/1288) and the SFDR Regulatory Technical Standards (RTS) in December 2023.

Disclosure RequirementsESMARegulatory Technical StandardsSustainability
5 Jan 2024Impact and ESGUpdates

New green investment scheme consultation

On 21 December 2023, the Danish Financial Supervisory Authority published a draft executive order on a new green investment scheme for consultation.

Danish RegulationSustainability
18 Dec 2023Impact and ESGUpdates

Provisional Agreement on the Corporate Sustainability Due Diligence Directive

A provisional agreement on the Corporate Sustainability Due Diligence Directive (CSDDD) has been concluded between the Council and the European Parliament on 14 December 2023.

GovernanceRisk ManagementSustainability
11 Dec 2023Impact and ESGUpdates

EU Green Bond Regulation enters into force

The EU Regulation (EU) 2023/2631 of the European Parliament and of the Council of 22 November 2023 on European Green Bonds and optional disclosures for bonds marketed as environmentally sustainable and for sustainability-linked bonds (the “EU Green Bond Regulation”) has been published in the Official Journal of the EU and enters into force 20 December 2023.

Disclosure RequirementsGovernanceSustainability
24 Nov 2023Impact and ESGUpdates

Technical screening criteria for remaining environmental objectives now published

The Environmental Delegated Act introduces technical screening criteria for economic activities substantially contributing to one of the remaining four environmental objectives.

Sustainability
25 Oct 2023Impact and ESGUpdates

Simplification and requirement reduction are key words in 2024 Commission Work Programme

On 17 October 2023, the EU Commission adopted their 2024 Commission Work Programme focusing mainly on strengthening EU’s competitiveness through reduction of burdens on businesses and rationalisation of reporting requirements.

GovernanceSustainability
25 Oct 2023Impact and ESGUpdates

Introduction of EU Taxonomy Stakeholder Request Mechanism

On 17 October 2023, the EU Commission and the advisory body, Platform on Sustainable Finance, introduced the EU Taxonomy Stakeholder Request Mechanism.

Sustainability
19 Oct 2023Impact and ESGUpdates

Status on the EU sustainable finance framework

In June 2023 the European Commission published and adopted a sustainable finance package with measures to expand and strengthen the EU sustainable finance framework. This update provides a closer overview of those measures which are now subject to scrutiny by the European Parliament and the Council.

Regulatory Technical StandardsSustainability
17 Oct 2023Impact and ESGUpdates

Proposal for Danish implementation of CSRD out for consultation

On 13 October 2023, the legislative proposal for implementation of the Corporate Sustainability Reporting Directive (“CSRD”) and a number of appertaining executive orders went out for consultation.

Sustainability
25 Sep 2023Impact and ESGUpdates

Consultations on the implementation of SFDR

On 14 September 2023, the European Commission initiated two consultations on the implementation of SFDR. The consultations focus on, among others, the regulation’s useability and role in combatting greenwashing.

Disclosure RequirementsRegulatory Technical StandardsSustainability
19 Sep 2023Impact and ESGUpdates

Status on the CSDD Directive

On 13 September 2023, the Danish Corporate Governance Board published their annual account for 2022-2023. The account contains a status on the CSDD Directive which is still negotiated in the EU.

Sustainability
4 Sep 2023Impact and ESGUpdates

Memo from the Danish Financial Supervisory Authority on periodic reporting

On 30 August 2023, the Danish Financial Supervisory Authority (“DFSA”) published a memo describing the requirements in SFDR art. 11 for periodic reporting.

ComplianceDisclosure RequirementsSustainability
22 Aug 2023Impact and ESGUpdates

New reports on the understanding of greenwashing

The progress reports are a result of a push from stakeholders requesting greater market integrity, investor protection and trusted environments for sustainable investments as sustainability has become an important competitive factor.

ESMASustainability
11 Aug 2023Impact and ESGUpdates

European Sustainability Reporting Standards have been adopted

On 31 July 2023 the European Commission adopted European Sustainability Reporting Standards (ESRS) which are mandatory standards for companies under CSRD to use when reporting on sustainability information.

Sustainability
9 Jun 2023Impact and ESGUpdates

Updated guide on the SFDR and Taxonomy Regulation

The updated guide takes regulation and guidance from public consultations and Q&A’s since July 2022 into account. Further, it reflects the most recent market practice on the application of the regulations.

ComplianceDisclosure RequirementsSustainability
17 May 2023Impact and ESGUpdates

EU Commission answers questions on interpretation of SFDR

The EU Commission has published its answers to questions on the interpretation of SFDR. The questions were put forward by the ESAs in September 2022 in order to receive clarification within central aspects of SFDR.

Disclosure RequirementsSustainability
11 May 2023Impact and ESGUpdates

EU Commission answers questions on interpretation of SFDR

The EU Commission has published its answers to questions on the interpretation of SFDR. The questions were put forward by the ESAs in September 2022 in order to receive clarification within central aspects of SFDR.

Disclosure RequirementsSustainability
1 May 2023Impact and ESGUpdates

Consultation on the ESAs review of SFDR

The European Supervisory Authorities (EBA, EIOPA and ESMA) have earlier this month published a consultation paper in which they propose amendments to the Commission Delegated Regulation.

Disclosure RequirementsESMARegulatory Technical StandardsSustainability
8 Mar 2023Impact and ESGUpdates

Thematic review of sustainability disclosures for funds with sustainable investment as the objective

On 3 February 2023, the Danish Financial Supervisory Authority (“DFSA”) published a thematic review of sustainability disclosures for eight funds with sustainable investments as their objective.

ComplianceDisclosure RequirementsSustainability
8 Mar 2023Impact and ESGUpdates

Public consultation on the update of the OECD Guidelines for Multinational Enterprises

In general, the Guidelines, last updated in 2011, are a set of non-binding recommendations to businesses for ensuring responsible business conduct in all areas where business interacts with society.

ComplianceGovernanceSustainability

Other updates

21 May 2024Impact and ESGUpdates

Summary report of the consultations on the implementation of SFDR

The European Commission initiated in September 2023 public and targeted consultations on the implementation of the SFDR running until 22 December 2023. A summary of the contributions on the consultations have now been published in a summary report.

Disclosure RequirementsRegulatory Technical StandardsSustainability
13 May 2024Impact and ESGUpdates

The Danish FSA: Investment Managers must be better at disclosing sustainability related information

The Danish Financial Supervisory Authority has in a thematic review assessed several sustainability related issues at two investment managers.

Disclosure RequirementsSustainability
7 May 2024Impact and ESGUpdates

Invest Europe GP ESG Due Diligence Guide

Invest Europe has published a revised GP ESG Due Diligence Guide. It provides guidance on how ESG factors can be incorporated into general partner’s management and decision-making processes.

Sustainability
7 May 2024Financial RegulationUpdates

The Danish implementation of a framework for supervision of the financial sector under The DORA Regulation and NIS2 Directive

On 2 May 2024, the Danish Parliament adopted an amendment to the Danish Financial Business Act to provide the Danish FSA with a legal framework for supervision of the financial sector under the DORA Regulation and the NIS-2 Directive.

24 Apr 2024Impact and ESGUpdates

Final approval by the EU Parliament of the Corporate Sustainability Due Diligence Directive

Today, 24 April 2024, the Corporate Sustainability Due Diligence Directive (“CSDDD”) received the final green light from the European Parliament.

Sustainability
2 Apr 2024AIFsUpdates

AIFMD 2.0 published in the OJEU

On 26 March 2024, directive 2024/927 amending the directives 2011/61/EU (AIFMD) and 2009/65/EC (UCITSD), also known as AIFMD 2.0, has been published in the EU Official Journal.

AIFMDRisk Management