12 July 2024
On 10 July, the Platform on Sustainable Finance 2.0 held its last plenary meeting before the summer break. At this meeting, it agreed on further improvements to enhance sustainable finance practices in Europe.
The Platform informally approved a proposal to the European Commission regarding the voluntary EU Taxonomy Aligning Benchmarks (TABs) report. It provides recommendations for the comparability of taxonomy-aligning benchmark methodologies. It promotes flexibility, offering valuable tools for investors to align their investment strategies with EU taxonomy standards.
Moreover, the Platform shared its recommendations with the European Financial Reporting Advisory Group (EFRAG) concerning the draft European Sustainability Reporting Standards (ESRS) for listed and non-listed small and medium-sized enterprises (SMEs). These recommendations underscore the need to support SMEs in navigating the evolving landscape of sustainable finance regulations, especially in managing data requests related to sustainability reporting.
Looking ahead, the European Commission is preparing to release a Taxonomy Frequently Asked Questions document this summer, offering guidance on applying the EU Taxonomy Delegated Acts introduced in 2023. Furthermore, efforts to enhance the usability and adoption of the Taxonomy will continue by providing implementation guidance and updates to the EU Taxonomy Navigator.
As the Platform resumes its activities in September, it will further advance transitional Taxonomy-aligned initiatives and expand its focus on environmental activities with the Technical Working Group (TWG). Leveraging submissions from the Stakeholder Request Mechanism, the Platform’s TWG aims to have a final draft for new activities ready by the end of December. A foreseeable public consultation on its report is scheduled for the end of January 2025.
Contact: Henriette Gleau
Employment and social affairs ministers will meet in Brussels on Tuesday 16 July, for a half-day meeting, for the first EPSCO meeting of the Hungarian presidency of the Council of the EU. Attila Fülöp, Hungarian Minister of State for Care Policy, and Sándor Czomba, Hungarian Minister of State for Employment Policy, will chair the meeting; on this occasion, the European Commission will be represented by Nicolas Schmit, European Commissioner for Jobs and Social Rights, and Helena Dalli, European Commissioner for Equality.
In the context of the European Semester, ministers will hold a policy debate on the subject of ‘Labour and skills shortages in the EU’. The debate will focus on increasing employment levels among groups currently underrepresented in the labour market, particularly young people and older workers. It is the first follow-up at Council level to the Commission’s action plan on labour and skills shortages, which is a communication from the Commission and was published on 20 March 2024 and sets out possible measures at EU and member-state level to tackle labour and skills shortages and prepare the ground for future action.
Furthermore, the Council will be invited to approve the contribution on the employment and social policies aspects of the country-specific recommendations (CSRs) and are expected to endorse the opinion of EMCO and the SPC on the implementation of the CSRs for 2023 and the assessment of the CSRs for 2024. They will also hold a policy debate entitled ‘Social inclusion of persons with disabilities at the EU and national level. The debate will focus on ways to promote quality and equal employment of persons with disabilities as a key element of fostering social inclusion.
Contact: Guillaume Afellat
Part of the New Economy International Forum (NEF), a strong pro-European organisation promoting economic, social, and political debate under the principles of independence and pluralism. Forum Europe organised on Thursday 11 July a discussion on “Ideas to Strengthen the Union”, with Esther Lynch, European Trade Union Confederation (ETUC) General Secretary.
This event gathered various key European stakeholders, including the business community, policymakers, newly elected Members of the European Parliament, and representatives from trade unions and employers’ organisations at the European, national, and local levels. This was an opportunity to exchange views on the challenges the European Union will face in the upcoming term and share priorities with the other organisations attending the event.
SGI Europe joined the discussion and took this opportunity to share, via the Q&A session and informal discussions, key elements of its 2024-2029 priorities. The discussion touched upon the importance of social dialogue, including the follow-up on the Val Duchess Summit.
On this very topic, SGI Europe recalled the need to create the right conditions for re-invigorating the EU social dialogue through the involvement of social partners in all initiatives with direct or indirect impacts on the labour market. We also call on EU institutions to clearly and explicitly recognise the role played by SGIs – as providers of essential services – in the EU social and economic model.
Contact: Benoît Cassorla
On Friday 27 September, the Sustainability and Internal Market Boards will organise a joint meeting, gathering SGI Europe members active in both boards. The meeting will be hosted by EDF, in their offices in Paris, with hybrid participation possible.
This strategic meeting will be the moment to shape SGI Europe’s key strategies as the new Commission begins its mandate. The main items on the agenda will include:
One of the main objectives will be to determine how the two boards can best support each other in their work, articulating cross-sectoral reflections and sector-by-sector contributions.
This meeting will also be the moment to define more clearly how the EU’s regulatory framework should be developed to allow SGIs to fully contribute to the green and digital transitions and to competitiveness.
Contact: Ruben Sansom
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