The ISBT aims to create rigorous evidence-based sustainability criteria for investments, which businesses, financial institutions and other stakeholders can use as a scientific guide for their operations and decision making.
The ISBT duplicates the “EU Taxonomy’s criteria” wherever they are robust and only departs from them when they are scientifically weak or unevidenced. In these cases, in a cascading way, the technical experts of the ISBT will recommend alternative criteria – building first on the technical recommendations of the EU Platform or otherwise on any other relevant framework.
To highlight scientific and unscientific criteria in the EU Taxonomy, the ISBT uses a grading system:
The ISBT can also assess EU Platform’s criteria which are not yet adopted by the Commission, and propose criteria for new activities to be adopted by the EU and international taxonomy frameworks. Where the ISBT has no expertise, the mark ‘Not Reviewed by ISBT’ is assigned.
Criteria for each activity is regularly updated to reflect scientific, technological and legislative developments. The ISBT also aims to provide visibility on upcoming science based taxonomy criteria, not only the current ones, helping the market to anticipate future updates of the taxonomy criteria and better connecting the taxonomy with available sector-specific 2050 decarbonisation pathways.
The ISBT is an independent project. The opinions expressed here do not represent the official position of the organisations and individuals working in the ISBT initiative. The work related to the ISBT is funded exclusively by philanthropic institutions.
In addition to NGO contributions, our work features insights from academics, researchers and supporters who are shaping the criteria for evaluating economic activities. Interested in joining our initiative? Check out the Call for Experts.
The Independent Science Based Taxonomy comprises the four following bodies: the Board, the Technical Expert Group (TEG), the Secretariat and the Supporters Circle.
1. The Board
Mandate:
The Board aims to steer and oversee the development of the ISBT, and to preserve its independent, science based and not-for-profit nature.
The Board is composed of individuals representing the not-for-profit organisations supporting the ISBT. Board members have a two-year mandate which can be renewed. They should aim to finish their mandate if they wish to terminate cooperation with ISBT. Board members can be TEG members.
Tasks:
Procedures:
Aims for consensus, when not possible it deliberates by simple majority voting.
2. The Technical Expert Group (TEG)
Mandate:
The TEG is responsible of the Independent Science Based Taxonomy (ISBT). It is in charge of conducting analysis and scoring of taxonomy criteria, and developing recommendations for new/updated criteria/economic activities.
TEG members have a two-year mandate which can be renewed. They should aim to finish their mandate if they wish to terminate cooperation with ISBT.
Procedures:
3. The Secretariat
The Secretariat hosts the ISBT (Board and TEG) digitally, and manages the ISBT website.
4. The Supporters Circle
The Supporters Circle enhances collaboration within the Independent ISBT while upholding its principles of independence and scientific rigour.
Mandate:
Supporters contribute expertise and resources to the TEG and support ISBT criteria where relevant, to advance ISBT objectives.
Tasks:
Procedures:
Supporters participate in relevant TEG working groups and contribute to discussions but do not have voting rights; final decisions rest with the TEG.
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