ICMA publishes briefing note on the political agreement on the EU taxonomy

 

19 December 2019 The European Council and the European Parliament reached a political agreement on the Taxonomy Regulation on 18 December 2019. The Taxonomy Regulation will introduce a complex classification system of sustainable activities based on contributions to environmental objectives and technical criteria, as well as wider social and sustainability factors. It also recognises transition and enabling activities. The Taxonomy Regulation will not only apply to sustainable financial products, but also stipulates mandatory disclaimers for mainstream fund and pension products that are not using the Taxonomy as well as reporting requirements for large firms already subject to the Non-Financial Reporting Directive.

ICMA, a member of the Commission’s Technical Expert Group (TEG) on Sustainable Finance, has produced a briefing note summarising the main provisions of the Taxonomy Regulation, including the proposed classification framework, which will become a necessary reference for future sustainable financial products when they are marketed or when they are being defined by Member States or the European Union.
 
Download the briefing note.
ICMA Zurich

T: +41 44 363 4222
Dreikönigstrasse 8
8002 Zurich
ICMA London

T: +44 20 7213 0310
110 Cannon Street
London EC4N 6EU
ICMA Paris

T: +33 1 70 17 64 72
62 rue la Boétie
75008 Paris
ICMA Hong Kong

T: +852 2531 6592
Unit 3603, Tower 2
Lippo Centre
89 Queensway, Admiralty
Hong Kong
 
Copyright © 2020 International Capital Market Association.