This document sets out the results of the work to date undertaken by the Technical Expert Group (TEG) on Sustainable Finance in relation to the development of an EU classification system for environmentally sustainable economic activities (hereafter ‘Taxonomy’). It has six parts:
1. Explanation of the Taxonomy approach. This section sets out the role and importance of sustainable finance in Europe from a policy and investment perspective, the rationale for the development of an EU Taxonomy, the daft regulation and the mandate of the TEG.
2. Methodology. This explains the methodologies for developing technical screening criteria for climate change mitigation objectives, adaptation objectives and ‘do no significant harm’ to other environmental objectives in the legislative proposal.
3. Taxonomy user and use case analysis. This section provides practical guidance to potential users of the Taxonomy, including case studies
4. Economic impacts of the Taxonomy. This section provides the TEG’s analysis of the likely economic impacts of establishing an EU Taxonomy.
5. Next steps for the Taxonomy. This section elaborates on unresolved issues and potential ways forward for the Taxonomy and the technical work of the Platform on Sustainable Finance.
6. Full list of technical screening criteria. This annex sets out the sector- and economic activity-specific technical screening criteria and rationale for the TEG’s analysis.
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