Plans to publish recommendations on how the European Commission should extend its taxonomy to cover environmentally harmful and ‘non-green’ transition activities are set to be delayed, the head of the advisory group has said.
The EU Platform on Sustainable Finance was slated to produce its final advice to policymakers by the end of the year, on the back of draft recommendations this summer that called for the creation of a ‘Significantly Harmful’ (SH) taxonomy with reporting requirements to be implemented by 2023.
The platform also recommended a third category of activities, capturing those that don’t cause significant harm to the EU’s environmental objectives but don’t meet the framework’s existing Taxonomy criteria for substantially contributing (SC) to them. This category would be called ‘Intermediate Performance’ and be amber-coloured under a proposed traffic light system proposed by the group.
Consultations on the recommendations, …