European Commission advocates 鈥榲oluntary鈥� taxonomy framework
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European Commission advocates 鈥榲oluntary鈥� taxonomy framework 21 June 2019London Reporter: Rebecca Delaney
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Implementation of sustainable taxonomy should be voluntary, according to a new report published by the European Commission鈥檚 Technical Expert Group (TEG).
The report determined that investors with an interest in taxonomy-eligible activities should either utilise the available EU framework or disclose their own individual approach.
The voluntary use of the framework has 鈥渄ivided political opinion鈥�, causing the European Parliament to call for either a 鈥渃omply or explain approach鈥�.
The TEG defined climate change mitigation (an environmental objective set forth in the report as a criterion for determining an environmentally sustainable activity) as 鈥済reening of鈥� and 鈥済reening by鈥�, in order to widen the scope of the term to apply to more activities.
Furthermore, climate change adaptation was defined as a twofold approach that initially examines the 鈥渘egative physical impact鈥� of climate change on a particular activity, before formulating a programme to minimise such impacts.
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