On 24 January 2022, the Platform on Sustainable Finance (Platform) published a report to the European Commission containing its feedback on the draft Taxonomy Complementary Delegated Act – Commission Delegated Regulation (EU) …/… of XXX amending Delegated Regulation (EU) 2021/2139 as regards economic activities in certain energy sectors and Delegated Regulation (EU) 2021/2178 as regards specific public disclosures for those economic activities (the CDA).
The report provides feedback on the draft technical screening criteria in the CDA, focussing on environmental performance and usability aspects. In the time available, the Platform has identified limitations with the draft CDA criteria but has not devised alternatives for these criteria. In case the draft CDA criteria are adopted, the Platform has formulated specific recommendations on the disclosure obligations for corporations and financial products.
The overall assessment of the Platform is that the draft CDA activities are not in line with the Taxonomy Regulation and most members see a serious risk of undermining the sustainable Taxonomy framework. Further, Platform members have doubts about how the draft criteria would work in practice and many are deeply concerned about the environmental impacts that may result.