22.06.2020

Regulation (EU) 2020/852 of the European Parliament and of the Council of 18 June 2020 on the establishment of a framework to facilitate sustainable investment and amending Regulation (EU) 2019/2088 was published in the Official Journal of the EU. The Taxonomy Regulation aims to create the world's first-ever “green list” – a classification system for projects and economic activities that have a substantial positive impact on the climate and the environment. The European Commission will adopt delegated acts containing specific technical screening criteria to supplement the principles set out in the regulation and determine which economic activities can qualify for each environmental objective laid down in the regulation. An economic activity can be labelled as environmentally sustainable if it contributes to at least one of the objectives without significantly harming any of the others. The criteria for “climate change mitigation and adaptation” will be adopted by the end of this year and the criteria on the other environmental objectives (“sustainable use and protection of water and marine resources”, “transition to a circular economy”, “pollution prevention and control”, and “protection and restoration of biodiversity and ecosystems”) by the end of next year.

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