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They are composed of selected EU agencies, institutions and business related stakeholders.

The first deals with aspects of large companies’ mandatory disclosure of non-financial and diversity information. The work will involve advice on how to revise reporting requirements in order to improve the impact of businesses on the environment and human rights.

The second will advise on the implementation of the EU’s Taxonomy Regulation, adopted in June 2020, advising more specifically on the necessary requirements for investments in the EU to be ‘green’ and sustainable. The Taxonomy Regulation refers to the UN Guiding Principles on business and human rights, relevant International Labour Organization conventions and other human rights instruments.

Both advisory groups start their work in September/October 2020.