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What is EU Taxonomy?

What is the EU taxonomy? The EU taxonomy is a classification system, establishing a list of environmentally sustainable economic activities. It could play an important role helping the EU scale up sustainable investment and implement the European green deal.

What is EU Taxonomy eligibility?

To summarize, if the economic activity is “eligible” by the EU Taxonomy, it has to comply with the three technical screening criteria; make a substantial contribution to at least one environmental objective; do no significant harm to any other environmental objective; and meet minimum social safeguards.

What is the EU Sustainable Finance taxonomy?

The EU taxonomy is a complex system to classify which parts of the economy can be marketed as sustainable investments. It includes a long list of economic activities, plus detailed environmental criteria that each must meet to earn a green label.
Feb 3, 2022

What is EU Taxonomy alignment?

The EU Taxonomy aims to provide clarity to investors and protection against “greenwashing”. Once companies begin disclosing their alignment with the technical screening criteria, it will provide detailed information on the actual environmental impact and sustainable performance of economic activities.

What does EU Taxonomy mean for banks?

The EU Taxonomy Regulation is a 2020 piece of EU law which introduced a classification system setting out the criteria for recognising economic activities as environmentally sustainable.
Jan 25, 2022

Does EU Taxonomy apply to UK?

The UK inherited the EU’s taxonomy framework, and this week re-affirmed its commitment to create a British version. Some divergence from the EU taxonomy is expected, to ensure that it is “suitable for the UK market and consistent with UK government policy”.
Oct 22, 2021

Who is affected by EU Taxonomy?

4. The EU Taxonomy will affect businesses beyond Europe. As financial markets are global, the EU Taxonomy will have implications for businesses globally. If your business has European investors, they likely will be asking questions about your alignment with the EU Taxonomy.
May 19, 2021

Does EU Taxonomy apply to banks?

The EU Taxonomy sets ambitious goals and challenges to businesses and banks, at lightning speed. This is a learn- ing process for market participants, for governments, for us all. For the best.

How does the EU Taxonomy affect banks?

The taxonomy sets a common set of definitions and thresholds and as such, the banking sector is subject to higher standards in terms of consistent, transparent and comparable reporting on green financial products and processes.

How do you use EU taxonomy?

Applying the EU Taxonomy to your investments, how to start?

  1. Step 1 – Identify companies with activities that could be aligned to one or more environmental objectives. …
  2. Step 2 – Check if the substantial contribution criteria is met. …
  3. Step 3 – Check if the “do no significant harm” criteria is met.

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