SGI Europe welcomes the entry into force of the EU Taxonomy Regulation Climate Delegated Act

On Thursday 9 December 2021, the EU Taxonomy Regulation Climate Delegated Act was published in the EU Official Journal, after being cleared by the European Council, bringing to life the legislative framework of the EU Taxonomy of sustainable activities.

Valeria Ronzitti, SGI Europe General Secretary, commented: 

“SGI Europe welcomes this development in the EU Taxonomy, as it is a central stepping stone for creating a sustainable finance framework in Europe.”
“However, we highly regret the lack of guidelines on the application of this new regulation. We fear that the European Commission underestimates the high complexity of implementing the Taxonomy framework, in particular the Delegated Act on article 8 and the reporting obligations.”

“We call on the Commission to publish such guidance paper within the shortest time possible, to give enterprises the time to prepare their new Taxonomy reporting obligations. We also call the European Commission to provide a Help Service line for EU Taxonomy, open and easily accessible in all EU languages, to provide the needed help and support to all enterprises.”

As a partner active in the Sustainable Finance Platform, SGI Europe will continue to provide inputs and further develop the EU Taxonomy, including the finalisation of the second Delegated Act on the four remaining environmental objectives, and ensuring that the Taxonomy concretely supports SGIs in meeting the EU’s climate and energy ambitions.

SGI Europe will also open in 2022 a new era for its CSR Label, with a focus on the implementation of the EU taxonomy.

Photo: European Union, 2021. Source: EC - Audiovisual Service