The Platform on sustainable finance published 2 drafts to advise the Commission on potential social and extended environmental taxonomy. Platform’s advice on this will feed into the Commission’s report on the potential extension of the taxonomy framework to be adopted by the end of 2021.
- Draft proposal for a social Taxonomy: just as the EU environmental taxonomy defines activities that substantially contribute to environmental objectives, a social taxonomy would do the same for social objectives
- Taxonomy extension options linked to environmental objectives: it proposes further clarity on both: activities that are significantly harmful to environmental sustainability, and those that have no significant impact on it. The aim is to support transitions in areas currently of “significant harm”
The Platform will welcome stakeholder feedback on both drafts through two calls for feedback, which will run from 12 July to 27 August 2021.