EU Taxonomy, Last Call for Feedback on the Minimum Safeguards

 

  • Companies have time until 6 September to comment on how compliance with minimum safeguards set out in Article 18 of the Taxonomy Regulation could be assessed.   

 
 
 

The call for feedback on the draft report on minimum safeguards (MS) prepared by the Platform on Sustainable finance will be accessible to stakeholders until 6th September. The document identifies four core topics for which compliance with Minimum Safeguards (MS) should be defined:

  1. Human rights and workers’ rights

  2. Bribery/corruption

  3. Taxation

  4. Fair competition

Since some of the EU regulations the report focuses on are not finalised – like the upcoming Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD) –  the solution developed in this report is to:

a) Build the requirements for MS compliance on the international standards referenced in Article 18 - especially on the UN Guiding Principles and the OECD guidelines;

b) Point to upcoming regulations and disclosure requirements that refer to these standards;

c) Provide independent sources of information on particular aspects of their implementation for external performance checks;

d) Illustrate potential non-compliance with minimum safeguards with the help of examples.

Give your feedback here.

 

Next step:

After this round of feedback, the Platform will submit a final report to the Commission later in September 2022.

For more information:

Giorgia Miccoli

EU Project Manager

 

 
 
 

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