SGI Europe welcomes the publication of the Platform on Sustainable Finance’s Report on Technical Screening Criteria

Today (28 November), the Platform on Sustainable Finance published its final report on criteria for the EU Taxonomy: the Supplementary Report on the Technical Screening Criteria (TSC). With the other Platform reports (the first part of the TSC, the Social Taxonomy, the Extended Taxonomy, and the Data, Usability and Minimum Safeguards), this Supplementary TSC brings to an end the 2-year mandate of the Platform to develop sustainability criteria for the EU Taxonomy. Overall, SGI Europe welcomes this final deliverable as another key milestone to bring to life the EU’s sustainable finance framework.

Commenting on the final report, Valeria Ronzitti, SGI Europe General Secretary, said:

"Today, we see the final product of the Platform’s work to further enhance the development of sustainable finance criteria and guide financial actors to direct capital flows towards green projects. We urge the European Commission to take the recommendations of the Platform into account when assessing the criteria and proposing future acts complementing the Taxonomy Regulation.”

“We particularly welcome the inclusion of references to the protection of EU’s water resources in the report, aimed at protecting groundwater resources from external pollutions, whilst respecting the existing EU legislative framework. Climate change has a significant impact on Europe’s water supply: supporting investments that safeguard the health of water resources is vital for water management and guaranteeing high-quality standards for drinking water for the public.”

“However, in a dissenting opinion on the criteria for forestry put forward by some members of the Platform including SGI Europe, we are calling for clearly ensuring that the criteria align well with existing EU legislative files, scientific reports and the sustainable finance framework overall.”