The European Commission’s EU Taxonomy for Sustainable Activities: What do institutional investors need to know?
In March 2018, the European Commission published its Action Plan on Financing Sustainable Growth.1
Unprecedented in its ambition and scope, the action plan will have impacts all along the investment value chain including on Asset Owners, Asset Managers, Insurance Companies, Banks, Brokers/Dealers, Advisors, Credit Rating Agencies, Index Providers and Issuers. The plan includes very comprehensive measures with the aim of reorienting capital flows to sustainable investments, managing financial risks stemming from ESG issues like climate change and environmental degradation, and fostering transparency and long-termism in capital markets. The cornerstone of the plan calls for the establishment of a unified EU classification system for sustainable activities (the “taxonomy”), which is intended to provide guidance on activities qualifying as contributing to climate change mitigation and adaptation, environmental and social objectives. In June of this year, the EU’s Technical Expert Group on sustainable finance published the first taxonomy2 for environmentally-sustainable economic activities which was accompanied by a call for feedback from stakeholders through September 13th 2019.
August 22, 2019
7:00 a.m. PDT San Francisco
10:00 a.m. EDT New York
3:00 p.m. BST London
4:00 p.m. CEST Paris
Scroll the table to the right to see more