The Commission set up a Technical Expert Group on Sustainable Finance (TEG) to assist it in developing, in line with the Commission's legislative proposals of May 2018
- an EU classification system – the so-called taxonomy – to determine whether an economic activity is environmentally sustainable;
- an EU Green Bond Standard;
- benchmarks for low-carbon investment strategies; and
- guidance to improve corporate disclosure of climate-related information.
The TEG will operate until June 2019, with a possible extension until year-end 2019.
The TEG commenced its work in July 2018. Its 35 members from civil society, academia, business and the finance sector, as well as additional members and observers from EU and international public bodies work both through formal plenaries and sub group meetings for each work stream. The members of the TEG and the Commission recognise the importance of transparency and consultation throughout this process. To ensure transparency, the Commission will organise targeted and open consultation in 2018 and 2019. You can find the consultation plans for each subgroup here. They will be updated on a constant basis.
All meeting documents of the Technical Working Group on Sustainable Finance are available in the Register of Commission expert groups.