The EU Taxonomy is a classification system for environmentally sustainable economic activities that embeds sustainability data in the economic context. It thus creates a uniform understanding of sustainability for all economic actors and makes the EU’s environmental goals tangible and measurable. The EU Taxonomy is being developed continuously. So far, technical assessment criteria for the first two environmental goals – climate protection and adaptation to climate change – have been elaborated in detail.
Is it relevant for my company?
The EU Taxonomy intends to create the necessary framework conditions for the transition to a low-emission, resource-efficient economy by setting a common language for sustainable economic activities. The Non-Financial Reporting Directive (NFRD) and the Sustainable Finance Disclosure Regulation (SFDR) are the most important regulations that refer to the EU Taxonomy as a foundation. Companies and financial market participants that fall under these regulations have to report according to the EU Taxonomy.
Even if companies are not in the scope of these regulations, they may be indirectly affected through their business relationships. Our EU Taxonomy Quick Check Tool can give you more insight.