What is it?
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.
The tool answers the following questions based on your individual information:
- Is your company affected by the economic transformation towards more sustainability?
- Are you directly or indirectly obliged to disclose sustainability data?
- Are your company’s activities reflected in the EU Taxonomy?
The EU Taxonomy Quick Check Tool is primarily aimed at German SMEs, but is not limited to them.
Companies of all sizes and sectors can use the tool to understand what impact the EU Taxonomy and the economic shift towards more sustainability have on them.
To use the EU Taxonomy Quick Check Tool, all you need to do is enter key data about your company such as turnover, number of employees and sector. Based on this data, the tool analyses whether your company is affected by the regulations or other impacts of the transformation towards more sustainability in the economy.
You will then receive your individualised results by email.