Dialogue and close cooperation among a wide range of stakeholders from the public and private sector will be crucial to deliver on the aims of the EU Taxonomy Regulation and ultimately of the European green deal and the EU climate targets for 2030 and 2050.
The Platform on Sustainable Finance plays a key role in enabling such cooperation by bringing together the best expertise on sustainability from the corporate and public sector, from industry as well as academia, civil society and the financial industry join forces.
As a permanent expert group of the European Commission that has been established under Article 20 of the Taxonomy Regulation, the Platform will assist the Commission in developing its sustainable finance policies, notably the further development of the EU taxonomy.
In the following video you can watch an interview between Martin Špolc – Head of Unit Sustainable finance, Directorate General for Financial Stability, Financial Services and Capital Markets Union (DG FISMA) – and Nathan Fabian – Chair of the Platform on sustainable finance.
The first inaugural meeting of the Platform was held on 15 and 16 October 2020.
Commissioner McGuinness and Commissioner Sinkevičius addressed the new members and observers of the Platform and expressed their strong support for the Platform’s mandate. The Commissioners noted that the Platform will advise the Commission at a crucial time when we need to further increase our ambition to achieve our objectives of the European green deal as well as realising a sustainable recovery from the COVID-19 crisis.
What the Platform does
The platform is an advisory body subject to the Commission’s horizontal rules for expert groups. Its main purpose is to advise the European Commission on several tasks and topics related to further developing the EU taxonomy and support the Commission in the technical preparation of delegated acts, in order to implement the EU taxonomy.
Based on the mandate of the Platform in Article 20 Taxonomy Regulation, the members and observers started work on four main tasks to deliver key deliverables
- Advise the Commission on the technical screening criteria for the EU taxonomy, including on the usability of the criteria
- Advise the Commission on the review of the Taxonomy Regulation and on covering other sustainability objectives, including social objectives and activities that significantly harm the environment
- Monitor and report on capital flows towards sustainable investments
- Advise the Commission on sustainable finance policy more broadly
How the Platform is organised
The Platform has, in principle, an unlimited duration, taking into account the different tasks provided for in the Taxonomy Regulation and the need to amend the technical screening criteria of the EU taxonomy over time, in order to reflect, for instance, changing EU environmental legislation or technological developments.
It operates through a plenary in full composition of all 57 members and 11 observers, supported by subgroups where the technical work on its opinions, reports or recommendations takes place. The plenary serves as a forum to ensure that appropriate linkages are created between the relevant subgroups and to formally endorse advice and reports of the Platform.
The Platform is chaired by a Chairperson. The Commission has decided to appoint Mr Nathan Fabian, Chief Responsible Investment Officer, from Principles for Responsible Investment (PRI), as Chairperson of the Platform.
For an overview of the organisational set-up of the Platform, see the organigramme below. You can click on the organigramme to download it.
Organigramme of the EU Platform on sustainable finance
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DownloadWho is in the platform: Members and observers
A broad and balanced representation of stakeholders, expertise and perspectives allows the Platform to develop its advice based on scientific evidence, expertise and deep practical experience and to recommend technical screening criteria for an EU taxonomy that is usable and in line with the ambition of the European green deal.
The Platform brings together world leading sustainability experts across all stakeholder groups: Private stakeholders from financial, non-financial and business sectors, NGOs and civil society, academia and think tanks, experts in personal capacity, as well as public and international institutions.
In total, the Platform can draw on the expertise of 57 members and 11 observers
- 50 members selected from more than 500 highly-qualified applications after a public call for applications on the basis of their environmental, sustainable finance and, where relevant, social/human rights expertise, also aiming at a geographical, gender, cross-sectoral, type of organisation and other balance in the Platform's membership
- 7 members of public entities directly appointed through Article 20 Taxonomy Regulation - European Environment Agency, the European Investment Bank, the European Investment Fund, the three European Supervisory Agencies and the European Agency for Fundamental Rights
- 11 invitedobservers
The 50 selected members of the Platform have a mandate limited to two years. After the two years, the Commission will have the possibility to extend the mandate or to appoint new members.
Platform on sustainable finance - List of members
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DownloadTechnical work: Subgroups
Four subgroups are currently operating to prepare the technical work based on the variety of tasks and sub-tasks, the deadlines indicated by the mandate, and the different types of skills and expertise needed. Two additional subgroups are envisioned in the future.
Click on the subgroup's names below to view their tasks, deliverables and composition.