The EU Taxonomy Regulation – the establishment of an EU classification system for sustainable activities - was published in the Official Journal of the European Union on the 22 June 2020 and entered into force on 12 July 2020. An inception impact assessment was published for feedback in July 2020. These legally binding acts are long awaited because they will encompass Taxonomy’s technical screening criteria (i.e. Please note that the taxonomy will be published in two batches: one on the climate-related objectives and one on the other four environmental objectives (Sustainable Use and Protection of Water and Marine Resources, Transition to a Circular Economy, Pollution Prevention and Control and Protection and Restoration of Biodiversity and Ecosystems). The taxonomy for climate change mitigation and climate change adaptation should be established by the end of 2020, in order to ensure its full application by end of 2021. an EU taxonomy. However, the operational sections of the Taxonomy Regulation will only enter into force after the end of the Brexit transition period once the delegated acts have been published. Following the release of the European Commission’s draft Delegated Act on the EU Sustainable Taxonomy, a coalition of NGOs, think-tanks, experts, scientists, shareholder associations, and sustainable investment associations wrote to the Commission to voice concerns that the draft DA has ignored or weakened the TEG’s scientific advice for several activities. The delegated acts for the TSC for the first two environmental objectives (climate change adaptation and climate change mitigation) must be adopted by 31 December 2020 so that the taxonomy can start to apply from 1 January 2022 to those two environmental objectives. CEPF feedback on the Delegated Act addressing Climate Change in Taxonomy Regulation Sustainable Forest Management principles (Forest Europe) guide forestry practices in EU. On 18 December 2019, the Council and the European Parliament reached a political agreement on the Taxonomy Regulation. In that context, stringency is what we expect from the EU Taxonomy to preserve the integrity of Sustainable Finance, DIGITALEUROPE comments on taxonomy delegated act Digital has enormous enabling potential to facilitate the EU’s transition to a low carbon circular economy. The responses authorised for publication can be found below: In order to respond to the most frequently asked questions by stakeholders about the TEG’s final report and the Commission’s next steps, a joint document with frequently asked questions has been published by the Commission and the TEG. The Commission prepares and adopts delegated acts after consulting expert groups, composed of representatives from each EU country, which meet on a regular or occasional basis. As part of the Commission's better regulation agenda, citizens and other stakeholders can provide feedback on the draft text of a delegated act during a four‑week period. As a reminder, is a tool to help investors, companies, issuers and project promoters navigate the transition to a low-carbon, resilient and resource-efficient economy. The Taxonomy Regulation will come into force on 12 July 2020, but many key provisions will not apply until a later date, by which time additional detail will have been developed by way of delegated acts. After the European Taxonomy and the non-financial reporting directive (NFRD), the EBA is moving a step forward in its action plan on sustainable finance. While recognising the significant improvements made to the Technical Screening Criteria (TSC), E.DSO believes that several shortcomings yet persist. He added: “As the consultation on the taxonomy delegated act commences, I urge the Commission and co-legislators to ensure that the taxonomy criteria remain aligned to the EU’s sustainability goals, in line with the best available evidence.” The consultation is open for four weeks. Please enable scripts and reload this page. The complete taxonomy for climate change mitigation and climate change adaptation should be established by the end of … CEPF feedback on the Delegated Act addressing Climate Change in Taxonomy Regulation Sustainable Forest Management principles (Forest Europe) guide forestry practices in EU. Digital technologies have the potential to enable a 20 per cent reduction of global CO 2 emissions by 2030, in particular in traditional sectors like energy, transport, construction, agriculture and manufacturing [1] . Delegated acts under the taxonomy regulation FOCUS ON: News , The EU Taxonomy Regulation – the establishment of an EU classification system for sustainable activities - was published in the Official Journal of the European Union on the 22 June 2020 and entered into force on 12 July 2020. The Commission can adopt the delegated act and if the European Parliament and EU Council have no objections, it … This will give those affected by the Regulation a year to prepare for it in relation to those objectives. The EBA making full use of its powers, continues to lead the development of EU AML/CFT policy and support its effective implementation to foster an effective, risk-based approach to AML/CFT. This report builds on the work that the TEG published in June 2019 and the early feedback report published in December 2018. The delegated act on taxonomy should include: • No additional requirements regarding the sustainability of bioenergy going beyond the current sustainability criteria as introduced by the RED II (and adopted by the EUs ordinary legislative procedure) – currently under implementation in the Member States. The taxonomy is a classification framework according to which activities can be assessed in order to determine whether they are environmentally sustainable. The European Commission followed through on this action in May 2018 with a proposal for a regulation on the establishment of a framework to facilitate sustainable investment (Taxonomy regulation). The main objective of this document is to compare the final draft Delegated Act (DA) of the Commission specifying ‘technical screening criteria’ for economic activities under the climate mitigation and adaptation objectives of the EU Taxonomy with the final recommendations of the Technical Expert Group on sustainable finance (TEG). The delegated acts should clearly define “transitional activities” The adopted EU Taxonomy Regulation introduced an additional, new category of “transitional activities” which is considered to contribute substantially to climate change mitigation by phasing out greenhouse gas … When the co-legislators empower the Commission to adopt delegated acts, they do so via a mandate set down in the legislative act. Draft Delegated Acts on the EU Benchmark Regulation (expected to be delayed) Q2. The EU has set climate and energy targets for 2030, and aims to be climate-neutral by 2050. The report contains recommendations relating to the overarching design of the EU taxonomy, as well as extensive implementation guidance on how companies and financial institutions can use and disclose against the taxonomy. 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