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RTO LT expert S. Byčenkienė was appointed to EC Platform on Sustainable Finance

RTO Lithuania expert on Climate Resilience and Environmental Sustainability dr. Steivilė Byčenkienė was appointed to European Comission Platform on Sustainable Finance. This appointment was endorsed by European Association of Research and Technology Organisations (EARTO).

Earlier this year Valdis Dombrovskis, Executive Vice-President responsible for Financial Stability, Financial Services and Capital Markets Union said that “This Platform will play a crucial role in the development of the EU Taxonomy and our sustainable finance strategy over the coming years.”

“Sustainable and resilient finance. OECD Business and finance outlook 2020” points out that “the funds flowing into sustainable investment have grown steadily in recent years, with over USD 30 trillion of assets worldwide incorporating some level environmental, social and governance (ESG) consideration“.

This platform will be an advisory body composed of experts from the private and public sector. It will assist the Commission in the preparation of technical screening criteria (the so-called ‘delegated acts’), which will develop the taxonomy further. They will also advise the Commission on the further development of the EU Taxonomy to cover other sustainability objectives and provide advice on sustainable finance more broadly.

The Commission will adopt delegated acts containing specific technical screening criteria to supplement the principles set out in the Regulation and determine which economic activities can qualify for each environmental objective. The criteria for climate change mitigation and adaptation will be adopted by the end of this year and the criteria on the other four environmental objectives (sustainable use and protection of water and marine resources, transition to a circular economy, pollution prevention and control, protection and restoration of biodiversity and ecosystems) by the end of next year.