On March 9, the European Union (EU) Technical Expert Group on sustainable finance (the TEG) published their final report setting out recommendations to the European Commission (the Commission), including recommendations relating to the overarching design of the EU Taxonomy, guidance on how users of the Taxonomy can develop disclosures and a summary of the economic activities covered by the technical screening criteria (the Final Report).
The Final Report is supplemented by a Technical Annex containing a full list of revised or additional technical screening criteria for economic activities, which can substantially contribute to climate change mitigation or adaptation (the Technical Annex). The Technical Annex also includes methodological statements to support the recommendations set out in the Final Report.
The Commission asked the TEG to prepare the Final Report and Technical Annex to support the development of technical standards as required by the Taxonomy Regulation (for more information, please see the January 10 edition of Corporate & Financial Weekly Digest). Both documents had been published in June 2019 in draft form.