The European Union has established European Green Deal to promote the Union’s objective of carbon neutrality by 2050. As part of this programme, the EU has set up a classification system for sustainable financing (EU taxonomy), which aims to make financial markets more environmentally sustainable. How has your company prepared for the obligations of the EU taxonomy? And are you aware of your company meeting the criteria for the EU taxonomy?
What is EU taxonomy?
The EU taxonomy is a classification system for sustainable finance that provides criteria for determining environmentally sustainable business activities. Those responsible for the taxonomy should review their activities through six environmental targets and ascertain in a simplified manner what percentage of the company’s turnover is in line with the taxonomy. The EU taxonomy will therefore enable companies and investors to communicate credibly about green activities, helping to move towards a low-carbon economy.
Who is affected by the EU taxonomy and when?
The EU taxonomy regulation applies to companies operating in the financial markets and to large companies, which are required to conduct other financial studies pursuant to the CSRD. The taxonomy can also affect the operations of other companies at many different stages without a separate reporting obligation. The Regulation entered into force on 12 July 2020 and companies are required to report for the first time by the end of 2022 in accordance with the requirements of the Regulation.
Do you need any assistance in the jungle of the EU taxonomy?
We assist you in all matters related to the EU taxonomy:
Choose one of our ready-made packages or contact us and we will consider the right package for you!