EU Platform on Sustainable Finance Proposes Key Updates to EU Taxonomy

The Platform on Sustainable Finance (PSF) has launched a public consultation, open from January 8 to February 5, 2025, to seek feedback on proposed updates to the EU Taxonomy, the classification system for sustainable economic activities. The revisions aim to simplify criteria, improve usability, and expand the scope of eligible activities to align with the EU’s six environmental objectives: climate change mitigation and adaptation, water and marine resource protection, circular economy transition, pollution prevention, and biodiversity and ecosystem protection. Key updates include clearer “Do No Significant Harm” (DNSH) guidelines to help companies more easily assess compliance, as well as the inclusion of new activities such as digital solutions and the mining and smelting of materials like lithium, nickel, and copper. Helena Viñes Fiestas, Chair of the PSF, emphasized that the goal is to enhance the Taxonomy’s usability and effectiveness, with potential for future expansion to include additional activities. Stakeholders are encouraged to provide evidence-based feedback through the official consultation link, which will inform final recommendations to strengthen the Taxonomy as a tool for driving sustainable economic activity. Resources: https://esgnews.com/eu-platform-on-sustainable-finance-proposes-key-updates-to-eu-taxonomy/