Posted on June, 01 2021

WWF is pleased to resume its work in the Platform on sustainable finance. Our decision follows a letter from the European Commission proposing steps to address the concerns raised over the EU taxonomy criteria development process.

On 21 April 2021, WWF suspended its work in the EU Platform on Sustainable Finance. We were concerned about the way in which the EU sustainable investment taxonomy criteria had been developed, notably with regard to governance and transparency, and about the risk of harm to the Platform’s integrity and credibility as a result.

The difficult decision to suspend our work was taken in coordination with Platform’s representatives from BEUC, BirdLife, ECOS and Transport & Environment.

On 26 May, the Commission responded in a letter to the Platform’s Chair and rapporteurs. It proposes several steps to address the points raised. WWF is hopeful that such steps will lead to a stronger, more transparent and more inclusive process. The Commission provides the assurances that the independence, integrity and credibility of the Platform will be maintained in the development process of taxonomy criteria.

In particular, the Platform will be entitled to provide its technical analysis on draft Delegated Acts; and the Commission plans to publish together with taxonomy Delegated Acts a communication explaining the scientific rationale of the criteria.

Sébastien Godinot, Economist at WWF European Policy Office said:
"WWF is hopeful that the steps proposed and assurances given by the Commission will lead to a more transparent process ensuring the integrity of the Platform. Accordingly, WWF is pleased to resume its work in the Platform. WWF remains fully committed for a taxonomy that is science-based, as per the requirements of the Taxonomy Regulation.”