Dr. Hanne Böckem
Partner, Audit, DPP
KPMG AG Wirtschaftsprüfungsgesellschaft
The European Commission’s “Platform on Sustainable Finance” (PSF) published a report on 30 March 2022 providing recommendations for new technical evaluation criteria (TSC) for all six environmental objectives of the EU Taxonomy Regulation.
The already existing reporting obligations pursuant to Art. 8 of the EU Taxonomy Regulation on the first two climate-related environmental objectives will be expanded in the future by reporting obligations on the other four environmental objectives “sustainable use and protection of water and marine resources”, “transition to a circular economy”, “avoidance and reduction of pollution” and “protection and restoration of biodiversity and ecosystems”. In particular, the report (Part A) contains the PSF’s recommendations for the TSC of economic activities contributing to the achievement of these four environmental objectives, as well as proposals for further revision of the EU taxonomy. The report is supplemented by a Technical Annex (Part B) with proposals for the new TSC for economic activities that contribute to the achievement of all six environmental objectives.
The PSF plans to publish another report in May 2022 with recommendations on the start of further economic activities and new TSC. Both reports express the views of the competent working group (Technical Working Group) of the PSF and are the starting point for the adoption of a new delegated legal act by the European Commission.