Sustainability
For companies to succeed in the 21st century, sustainability and social responsibility must be at the heart of their business model.
The Taxonomy objectives are twofold: to encourage economic players to identify their positioning in relation to the EU's sustainable transition trajectory, in order to enable financial players to prioritise the allocation of funding to projects and assets recognised as the most supportive of this trajectory.
To this end, the regulation creates a classification (Taxonomy) of economic activities according to their potential contributions to the EU's six environmental objectives (hence the common name of "green Taxonomy").
The requirement then directs companies to identify the activities in their portfolio that meet specific technical criteria and indicate the share they represent in their overall activity. Implementing the Taxonomy therefore requires:
The scope of companies targeted by the Taxonomy is currently the same as that of the NFRD. As a result, when the CSRD (Corporate Sustainability Reporting Directive) succeeds the NFRD in 2024, this scope will apply to the following:
Further information on the CSRD can be found in our CSRD brochure.
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