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Taxonomy Regulation
Article 20

Article 20 — Platform on Sustainable Finance

  1. The Commission shall establish a Platform on Sustainable Finance (the Platform). It shall be composed in a balanced manner of the following groups:
    1. representatives of:
      1. the European Environment Agency;
      2. the ESAs;
      3. the European Investment Bank and the European Investment Fund; and
      4. the European Union Agency for Fundamental Rights;
    2. experts representing relevant private stakeholders, including financial and non-financial market participants and business sectors, representing relevant industries, and persons with accounting and reporting expertise;
    3. experts representing civil society, including persons with expertise in the field of environmental, social, labour and governance issues;
    4. experts appointed in a personal capacity, who have proven knowledge and experience in the areas covered by this Regulation;
    5. experts representing academia, including universities, research institutes and other scientific organisations, including persons with global expertise.
  2. The Platform shall:
    1. advise the Commission on the technical screening criteria referred to in Article 19, as well as on the possible need to update those criteria;
    2. analyse the impact of the technical screening criteria in terms of potential costs and benefits of their application;
    3. assist the Commission in analysing requests from stakeholders to develop or revise technical screening criteria for a given economic activity;
    4. advise the Commission, where appropriate, on the possible role of sustainability accounting and reporting standards in supporting the application of the technical screening criteria;
    5. monitor and regularly report to the Commission on trends at Union and Member State level regarding capital flows into sustainable investment;
    6. advise the Commission on the possible need to develop further measures to improve data availability and quality;
    7. advise the Commission on the usability of the technical screening criteria, taking into account the need to avoid undue administrative burdens;
    8. advise the Commission on the possible need to amend this Regulation;
    9. advise the Commission on the evaluation and development of sustainable finance policies, including with regard to policy coherence issues;
    10. advise the Commission on addressing other sustainability objectives, including social objectives;
    11. advise the Commission on the application of Article 18 and the possible need to supplement the requirements thereof.
  3. The Platform shall take into account the views of a wide range of stakeholders.
  4. The Platform shall be chaired by the Commission and constituted in accordance with the horizontal rules on the creation and operation of Commission expert groups. In that context the Commission may invite experts with specific expertise on an ad hoc basis.
  5. The Platform shall carry out its tasks in accordance with the principle of transparency. The Commission shall publish the minutes of the meetings of the Platform and other relevant documents on the Commission website.
  6. Where financial market participants consider that an economic activity which does not comply with the technical screening criteria established pursuant to this Regulation, or for which such technical screening criteria have not yet been established, should qualify as environmentally sustainable, they may inform the Platform thereof.