Telefonica, A2A and Siemens represented on EU’s new sustainability body 

The EU has bolstered corporate representation on its sustainability advisory body. 

On Wednesday, the European Commission appointed a new slate of organisations and people to help it simplify its green taxonomy, scale transition finance, and shape the next phase of its environmental and social agenda.   

Helena Viñes Fiestas will continue to chair the Platform on Sustainable Finance (PSF) during its third mandate, which will run until the end of 2027. 

Viñes Fiestas, a commissioner at the Spanish markets authority, CNMV, has been involved in developing the EU’s sustainable finance rulebook since efforts began in 2016.  

Unlike the previous Platform, the latest version includes representatives from specific non-financial companies.

Italian utility A2A is on the list, along with German medical technology company Siemens Healthineers. 

Laura Fernández Cavas, the head of sustainable finance for Spanish telecoms giant Telefonica, has also been appointed to the group.

The Commission has swapped most of the trade bodies that participated in the previous iteration of the Platform for alternatives.  

BusinessEurope and Eurochambres, for example, are no longer members. 

Orgalim, the business association for Europe’s technology industries, has also been replaced – as has the European Alliance for Sustainable Finance in Waste Management and Recycling, and SolarPower Europe. 

In their place are the Biobased Industries Consortium, the European Chemical Industry Council (previously an observer), the European Construction Industry Federation, and Accountancy Europe. 

SMEunited remains on the Platform, along with the metals association Eurometaux. 

The number of academics in the group has been slashed, while the number of financial institutions has increased. 

KPMG has been swapped with PwC. 

Sustainalytics and the International Sustainable Finance Centre have both retained their spots. 

Bloomberg is an official observer on the new list, but not a member. 

The Commission’s corporate reporting body, EFRAG, is also an observer, along with the European Central Bank and NGOs ShareAction and the Principles for Responsible Investment. 

While the previous PSF included subgroups with tens of additional advisors, the latest version appears not to have any subgroups.