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EU-Taxonomy: Stakeholder request mechanism launched

On 17 October 2023, the European Commission and the Platform on Sustainable Finance launched the “Stakeholder request mechanism”. The mechanism provides a platform for all stakeholders, including companies, to voluntarily submit suggestions on possible revisions or extensions of the current list of environmentally sustainable activities by modifying the existing technical screening criteria. All requests must contain scientific and technical proof.

Interested companies are encouraged to submit their input at any give time. All requests submitted before 15 December 2023 will be analysed by a technical working group. However, submissions registered after that date will continue to be reviewed regularly. Based on all these requests, the Platform on Sustainable Finance must submit recommendations in 2024 to the European Commission on possible amendments of the EU taxonomy, including if additional economic activities must be included.

Additional information
The EU taxonomy is a classification system which establishes criteria for business activities that comply with the net zero policy by 2050 and other environmental goals. The European Commission must implement under the 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 (Taxonomy Regulation) lists of environmentally sustainable activities in the delegated and implementing Acts.

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