On 18 June 2020, the EU issued regulations in the form of Regulation 2020/852 (EU Taxonomy Regulation), which both define requirements for sustainable investments and specify what information is to be reported in this regard. The criteria listed there are intended to help external parties better assess the degree of environmental sustainability of certain investments.
The core of the EU Taxonomy Regulation are the "CRITERIA FOR ECO-SUSTAINABLE ECONOMIC ACTIVITIES" contained in Article 3, as well as further regulations on their application and on transparency in reporting.
For assessment purposes, action must always be seen in relation to the environmental objectives listed in the EU Regulation (Art. 9):
The EU taxonomy is intended to direct investments into those activities that are necessary to achieve the goal of climate neutrality in the EU by 2050. Based on an EU classification system, the sustainability of economic activities is classified according to a catalogue of criteria.
From 2022 onwards, companies with a company size of more than 250 employees, a turnover total of more than € 40 million or a balance sheet total of more than € 20 million are obliged to submit a sustainability report to the authorities.
The financial service providers must evaluate these companies according to the criteria of the taxonomy and award investment opportunities with premiums or discounts depending on the degree of sustainability.
Companies that cannot produce their products without environmentally harmful processes or components must be prepared to continuously adapt their production to the constantly falling limits (e.g. CO2 emissions).
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