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The EC has also welcomed the publication of three new important reports by the Technical Expert Group on sustainable finance, including key recommendations on the types of economic activities that can make a real contribution to climate change mitigation or adaptation (taxonomy).
The guidelines are part of the EC's ongoing efforts to ensure that the financial sector – private capital – can play a critical role in transitioning to a climate-neutral economy and in funding investments at the scale required. They will provide guidance to around 6,000 EU-listed companies, banks and insurance companies that have to disclose non-financial information under the Non-Financial Reporting Directive. They are inspired by recent proposals by the Technical Expert Group on sustainable finance (TEG), and integrate the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) established by the G20's Financial Stability Board.
EC´s guidelines on corporate climate-related information reporting
Expert report on an EU Green Bond Standard
Expert report on EU climate benchmarks and benchmarks' ESG disclosures