The taxonomy regulation defines what is a sustainable investment in different sectors, and aims at facilitating access to funding for sustainable companies.
After the release of experts’ recommendations (Taxo 4 report) for Technical Screening Criteria in Circular Economy and Pollution reduction, in June 2023 the EC adopted high-level criteria to define circular economy practices in textiles, such as: services for repair, preparation for re-use and second hand selling.
Timeline
The Commission proposal released in April, shall be approved by the Parliament and Council to be adopted by the Commission by Summer 24. More criteria impacting on textiles may be proposed in future legislative proposal.
More information
More information: Corporate Responsibility. Or contact our advisors.