EU Taxonomy: Environmental Delegated Act and amending Climate Delegated Act
This briefing has been prepared to support the parliamentary scrutiny of two delegated acts (DA) supplementing Regulation (EU) 2020/852 (‘Taxonomy Regulation’) as regards the establishment of a framework to facilitate sustainable investment: i) the Delegated Regulation establishing the technical screening criteria for determining the conditions under which an economic activity qualifies as contributing substantially to the sustainable use and protection of water and marine resources, to the transition to a circular economy, to pollution prevention and control, or to the protection and restoration of biodiversity and ecosystems (‘Environmental Delegated Act’) and amending Delegated Regulation (EU) 2021/2178 (‘Disclosure Delegated Act’) as regards specific public disclosures for those economic activities; and ii) the amending Delegated Regulation (EU) 2021/2139 (‘Climate Delegated Act’) as regards the establishment of the technical screening criteria for determining the conditions under which an economic activity qualifies as contributing substantially to climate change mitigation or climate change adaptation. In accordance with the empowerments set out in Articles 10(3),11(3) ,12(2), 13(2), 14(2) and 15(2) of the Taxonomy Regulation , the Commission shall adopt DAs to establish technical screening criteria (TSC) determining the conditions under which an economic activity qualifies as contributing substantially to one or more of the objectives listed under Article 9, and for determining whether that economic activity causes no significant harm to any of the other objectives. In addition, the Commission is empowered to adopt a DA on disclosure obligations under Article 8(4).
Briefing