Sustainable Finance Taxonomy: Deutsches Aktieninstitut again raises concerns

After the European Parliament’s decision to postpone the joint vote of the ECON and ENVI committees on the EU Commission’s proposal for a sustainable finance taxonomy, Deutsches Aktieninstitut has again hinted the Committee-members at the concerns of listed companies. While Deutsches Aktieninstitut generally welcomes the EU Commission’s legislative proposal, it opposes the parliamentary position of extending the taxonomy’s scope of application as well as the promotion of a “green” and “brown”-listing and rejects the integration of social belongings into the process of assessing the sustainability-degree of an economic activity. In addition, Scope 3-disclosures according to the Greenhouse Gas Protocol would at present not prove as feasible for most companies, especially SMEs.