FIEC supports EPBD revision but cautions against changing scope
Social Taxonomy – Draft report published
On Monday, July 12, the Sustainable Finance Platform published a draft report on social taxonomy aimed at defining activities that have a substantial social contribution and those that, on the contrary, have negative effects .
On the one hand, the vertical dimension of Taxonomy should focus on promoting decent living standards through the improvement of basic goods and services and would also include elements on accessibility to basic economic infrastructure, including transportation. On the other hand, the horizontal dimension should focus on decent working conditions and consumer interests.
However, in its report the Platform states that it would not be possible, for example, to define what is socially sustainable or not without taking into account the national context and industrial ecosystems. Indeed, many objectives of the social taxonomy go beyond European competence (such as the issue of wages, collective bargaining, etc.) and are in fact a matter for the national level, where the regulatory framework varies greatly from one Member State to another. It is important to ensure that the criteria developed do not favour companies located in certain jurisdictions with stricter social legislation.
Global ABC publishes 10 decarbonisation measures
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