Regulators

EU Platform on Sustainable Finance Calls for Feedback on Draft Report on Minimum Safeguards

Published on: 12 July 2022
by KnowESG
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The European Commission's Platform on Sustainable Finance, an advisory body to its horizontal rules for expert groups, calls for public feedback on its draft report on minimum safeguards.

Article 18 of the Taxonomy Regulation says that companies should have procedures in line with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights.

The report on minimum safeguards intends to advise how compliance with minimum safeguards could be assessed. The Commission's work on making the EU taxonomy usable will be influenced by what the platform says.

The stakeholders can provide feedback on the draft report until August 22, 2022. In September 2022, the platform will send the Commission the final report with their advice.

The Platform on Sustainable Finance is an independent Commission advisory group. Its reports inform but do not prejudge the Commission's decision on the topic.

The Commission will analyse and evaluate these reports and review the potential need for additional guidance on the application of Article 18 of the Taxonomy Regulation.

Source: European Commission

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