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EU taxonomy

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:

  • Review: We will ascertain the taxonomic eligibility of your company, i.e. whether your activities fall within the taxonomic criteria and what criteria your activities must meet
  • Assessment: We will ascertain your company’s taxonomy, i.e. the current state of your company’s EU taxonomy, and report on it as required
  • Consulting: We will assist you in all issues related to the EU taxonomy, such as planning guidance to meet the EU taxonomy criteria and requirements
  • Training: A customised training package for companies that are considering the impact of taxonomy on their activities but do not know how to proceed

Choose one of our ready-made packages or contact us and we will consider the right package for you!

Customer's benefits

With EcoReal, the customer would get:

  • Up-to-date information on the EU taxonomy obligations and requirements
  • Understanding the criteria set by the taxonomy for the company activities
  • Assistance in the taxonomy compliance reporting

 

Satisfied investors and financiers

The objective of the EU taxonomy is to make financial markets favour more environmentally sustainable solutions. As a result, investors and financiers will also expect to comply with the EU taxonomy and report from companies that are not currently subject to the reporting obligation pursuant to the Regulation.

 

Risk management

The EU taxonomy regulation and the related classification system for sustainable development are a real jungle for a layman. With the help of the work performed by experts, the customer avoids going through several EU guidelines and directives and ensures the correctness of the reporting.

 

Timeliness and anticipation

In the first stage, the EU taxonomy will affect major and large companies in the financial markets. It will later be extended to other sectors of the economy, and the reporting obligation may be extended to a larger number of companies. A responsible company anticipates in advance and ascertains its effects on its own business activities in good time.

Ask more about our services:

Lotta Kauppinen
Sustainability Manager
+358 50 554 4967
firstname.lastname@ecoreal.fi

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Customer's benefits

With EcoReal, the customer would get:

  • Up-to-date information on the EU taxonomy obligations and requirements
  • Understanding the criteria set by the taxonomy for the company activities
  • Assistance in the taxonomy compliance reporting

 

Satisfied investors and financiers

The objective of the EU taxonomy is to make financial markets favour more environmentally sustainable solutions. As a result, investors and financiers will also expect to comply with the EU taxonomy and report from companies that are not currently subject to the reporting obligation pursuant to the Regulation.

 

Risk management

The EU taxonomy regulation and the related classification system for sustainable development are a real jungle for a layman. With the help of the work performed by experts, the customer avoids going through several EU guidelines and directives and ensures the correctness of the reporting.

 

Timeliness and anticipation

In the first stage, the EU taxonomy will affect major and large companies in the financial markets. It will later be extended to other sectors of the economy, and the reporting obligation may be extended to a larger number of companies. A responsible company anticipates in advance and ascertains its effects on its own business activities in good time.