On Thursday, 30 April (from 4:00 to 5:00PM), Tuesday, 12 May (from 10:00 to 11:00AM) and Thursday, 28 May (from 12:00 to 1:00PM), we will organize a series of webinars on the implications the EU Taxonomy for Sustainable activities will have for the financial sector and industry. Click here to register directly!
The final report on the ‘EU Taxonomy for Sustainable activities’ was published last month by the Technical Expert Group (TEG), commissioned by the European Commission. This report is an important milestone in the development of a unified classification system, where financial institutions and companies can determine which activities qualify as sustainable. Sustainalize organizes three webinars on this topic, as the taxonomy is expected to have significant impact on financial institutions and industry.
The report includes recommendations on the overall design of the taxonomy, the practical implementation, and the required steps for implementation. The document is supported by an almost 600 page long technical report, that describes the technical screening criteria focusing on climate mitigation, climate adaption and four other environmental indicators. Additionally, specific attention is paid to corporate social responsibility and human rights.
The first recommendations are expected to be confirmed by the Commission in delegated acts (DA) at the end of this year. Hereafter, financial institutions and industry have one year to apply the recommendations to their own practices. Financial institutions will have to provide information referring to the taxonomy for their financial products distributed in Europe. Companies that comply with the EU non-financial guidelines will have to report on their position on the taxonomy in their annual reports. You can find the timeline for this process below:
Even though these timelines may seem rather long-term, the taxonomy will have a significant impact on financial institutions and industry and will be an important driver of the EU Green Deal that is being established now. On the one hand, this makes it easier to redirect projects towards more sustainable technologies and businesses. On the other, financial institutions and industry will have to translate taxonomy into their own context and develop new processes for steering, monitoring, and reporting.
At Sustainalize, we want to undertake this journey together with our clients. We start with a one-hour introduction webinar, in which our colleagues Nick and Pieter summarize the recommendations and supplementary technical report. During the following two webinars, we will discuss the challenges and solutions together with financial institutions and industry.
Invited to the webinars are the future users of the taxonomy: financial institutions and companies.
Webinar 1. The taxonomy: what is it and how important is it?
Date: Thursday, 30th of April, from 4:00 to 5:00 PM.
This will be an introduction to the taxonomy. We will dive into the content and intention of the taxonomy, and the consequences for industry and the financial sector.
Webinar 2. The taxonomy and the financial sector
Date: Tuesday, 12th of May from 10:00 to 11:00 AM.
What implications will the taxonomy have for the financial sector? We will discuss this with dr. Carel Cronenberg and Brenda Kramer as our guest speakers.
Webinar 3. The taxonomy and industry
Date: Thursday, 28th of May from 12:00 to 1:00 PM.
What implications will the taxonomy have for industry? We will discuss this with dr. Carel Cronenberg and Felicity Spors as our guest speakers.
Carel Cronenberg is coordinating the joint MDB working group on climate finance reporting, and represents the EBRD in the EU Technical Expert Group (TEG) for sustainable finance. He is TEG co-chair for the manufacturing sector and the ICT sector. Since the start of the TEG in 2018 he is deeply involved in the development of the EU Taxonomy. Currently he is implementing principles of the EU Taxonomy in EBRDs’ systems, as well as for EBRD clients, which include 140 financial institutions in Central and Eastern Europe, Northern Africa and Central Asia.
Brenda Kramer works as Senior Advisor Responsible Investment at the Dutch asset manager PGGM. She is also a core member of the European Technical Expert Group on Sustainable Finance (TEG). Previously Brenda worked 10+ years as strategic advisor for the Dutch Finance Ministry and the President of the Eurogroup, gaining deep expertise on European legislation and politics. In the TEG she combines this experience with her expertise on ESG integration and impact investment to contribute to a European classification system for green activities – the taxonomy- . At PGGM, Brenda has co-developed the taxonomy for investments in the Sustainable Development Goals and works on ESG integration for PGGM’s Infrastructure Fund. She is driven by the ambition to create positive societal impact alongside financial returns.
Felicity Spors, MSc. joined EIT Climate KIC in November 2017 and currently is Head of International and Public Affairs, responsible for positioning Climate KICs systems innovation implementation experience in the international arena and maintaining key international relations. She is responsible for maintaining key funding relations for the organization and providing advice on climate finance. Most recently she has been appointed chair of the City Climate Finance Leaders Alliance Action Group on Financial Tools and is an active member of the EC Sustainable Finance Technical Expert Group (TEG) working on the Sustainable Finance Taxonomy. She is committed to finding smart people-centered ways to transition to a low carbon economy and sees collaboration as critical to addressing this challenge.
Would you like to attend one or more of these webinars? Register via the form below.