European Taxonomy Regulation
Regulation (EU) 2020/852, of 18 June 2020, on the establishment of a framework to facilitate sustainable investment and amending Regulation (EU) 2019/2088, of 27 November 2019, on sustainability‐related disclosures in the financial services. This entered into force on 12 July 2020 and establishes the general conditions that must be met by an economic activity to be classified as sustainable from an environmental point of view, through a unified and legally binding classification.
European Commission Delegated Regulation
Commission Delegated Regulation I (EU) 2021/2139 of 4 June 2021, establishing the technical screening criteria for determining the conditions under which an economic activity qualifies as contributing substantially to climate change mitigation or climate change adaptation and for determining whether that economic activity causes no significant harm to any of the other environmental objectives.
Commission Delegated Regulation II (EU) 2021/2178 of 6 July 2021, specifying the content and presentation of information to be disclosed by undertakings concerning environmentally sustainable economic activities.
Spanish Law 7/2021 on Climate Change And Energy Transition
In the Spanish legislative framework, Law 7/2021 of 20 May, on climate change and energy transition, establishes “a framework for a just transition to a decarbonised economy, offering mandatory learning and transparency tools that help detect and assess risks and opportunities and improve investment decisions”, as indicated in section III of its Introduction.
Key articles:
- Article 8. Energy efficiency and the renovation of buildings.
- Article 31. Public procurement.
- Article 32. Integration of climate change risk by undertakings whose shares are listed on regulated markets, credit institutions, insurance and reinsurance companies and companies due to their size.
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