Proposal for a Regulation on the establishment of a framework to facilitate sustainable investment

Author (Corporate)
Series Details COM (2018) 353
Publication Date 24/05/2018
Content Type

Summary:

Legislative initiative published by the European Commission in May 2018, which sets criteria for determining whether an economic activity is environmentally sustainable. It also sets out a process involving a multi-stakeholder platform to establish a unified EU classification system (or taxonomy) based on a set of specific criteria.

Further information:

Step by step, the Commission aims to identify activities which qualify as 'sustainable', taking into account existing market practices and initiatives and drawing on the advice of a technical expert group that was set up alongside the launch of this proposal. The proposed Regulation is part of package of measures on sustainable development, following up on an Action Plan on Sustainable Finance released in March 2018 which aims to boost the role of finance in achieving a well-performing economy that delivers on environmental and social goals as well.

The proposal was put forward by the European Commission on 24 May 2018 as part of a legislative package on sustainable finance. The European Parliament adopted its position on the draft law on 28 March 2019, followed by the Council of the European Union on 25 September.

Source Link https://eur-lex.europa.eu/legal-content/EN/HIS/?uri=COM:2018:353:FIN
Related Link(s)
News
EurActiv, 16/10/2019: Gas industry storms into EU green finance taxonomy debate https://www.euractiv.com/section/energy-environment/news/gas-industry-storms-into-eu-green-finance-taxonomy-debate/
EurActiv, 27/11/2019: Paris, Berlin divided over nuclear’s recognition as green energy https://www.euractiv.com/section/energy-environment/news/france-and-germany-divided-over-nuclears-inclusion-in-eus-green-investment-label/

Official
EUR-Lex: SWD(2018)264: Impact assessment https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=SWD:2018:264:FIN
EUR-Lex: SWD(2018)265: Executive summary of the impact assessment https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=SWD:2018:265:FIN
European Parliament: Legislative Observatory: Procedure File for Proposal on Framework to facilitate sustainable investment https://oeil.secure.europarl.europa.eu/oeil/popups/ficheprocedure.do?reference=2018/0178(COD)
EP: Legislative Train: Establishment of a Framework to facilitate sustainable investment https://www.europarl.europa.eu/legislative-train/theme-deeper-and-fairer-internal-market-with-a-strengthened-industrial-base-financial-services/file-sustainable-finance-establishment-of-a-framework/09-2019
European Commission: Press Release, 24/05/2018: Sustainable finance: Making the financial sector a powerful actor in fighting climate change http://europa.eu/rapid/press-release_IP-18-3729_en.htm
European Commission: Fact Sheet, 24/05/2018: Frequently asked questions: Commission proposals on financing sustainable growth http://europa.eu/rapid/press-release_MEMO-18-3730_en.htm
Finnish Council Presidency: Sustainable finance: classification system for sustainability of investments https://eu2019.fi/en/backgrounders/sustainable-finance
Council of the European Union: Council position on the taxonomy of sustainable activities, September 2019 https://data.consilium.europa.eu/doc/document/ST-12360-2019-INIT/en/pdf
Council of the European Union: Press Release, 25/09/2019: Sustainable finance: Council agrees position on a unified EU classification system https://www.consilium.europa.eu/en/press/press-releases/2019/09/25/sustainable-finance-council-agrees-position-on-a-unified-eu-classification-system/

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