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Successful implementation of the EU taxonomy with Sustainable.

The EU Taxonomy is a key instrument of the EU Green Deal and the Financing Sustainable Growth Action Plan to promote an environmentally sustainable economy and channel capital flows into sustainable business activities. Companies must comply with the requirements in order to fulfill their reporting obligations. We are your professional partner for the implementation of the EU taxonomy.

Green light for sustainable investments. What you should know about the EU taxonomy.

The EU taxonomy is a set of rules that promotes a sustainable economy. Since January 1, 2022, large capital market-oriented companies must provide information on the taxonomy KPIs in their non-financial statement. The EU taxonomy consists of six environmental objectives: Climate change mitigation, climate change adaptation, sustainable use and protection of water and marine resources, transition to a circular economy, pollution prevention and reduction, and protection and restoration of biodiversity and ecosystems. The first two goals were published under the "climate taxonomy", according to which companies must report in full.

The introduction of the CSRD will expand the group of companies subject to reporting requirements. CSRD stands for Corporate Sustainability Reporting Directive, the aim of which is to put sustainability reporting on a par with financial reporting. The EU taxonomy will help to accelerate the transition to a low-carbon and resource-efficient economy. It defines three criteria for environmentally sustainable economic activity: The economic activity makes a significant contribution to the achievement of one or more of the designated environmental objectives, 2) The activity does not harm one or more of the other environmental objectives (Do No Significant Harm), 3) The activity is carried out in compliance with minimum safeguards.

Challenges in implementing the EU taxonomy.

The EU taxonomy is an important and central instrument for promoting an environmentally sustainable economy. But it also means a new challenge for you and your company. You must comply with the requirements of the taxonomy in order to fulfill the reporting obligations. To do this, you must first identify your company's taxonomy-eligible economic activities and understand which technical assessment criteria play a role in this.

It is crucial that you understand the technical criteria and check whether your business activities meet the sustainability-related requirements of the EU taxonomy. Companies must identify and calculate taxonomy KPIs relating to revenue, CapEx and OpEx. The taxonomy KPIs are certain key figures that companies must determine and disclose in a standardized manner. For this purpose, there are reporting forms developed by the EU, which must contain the taxonomy-eligible and taxonomy-compliant share for each economic activity. Companies must therefore understand the economic activities and technical assessment criteria and interpret and interpret these due to the descriptions within the EU taxonomy, some of which are still not very specific. This is the only way for companies to ensure that their business activities can be classified in accordance with the EU taxonomy and compared with the corresponding technical criteria and that they meet their reporting obligations.

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Guiding capital flows for sustainability.

From the 2021 reporting year, taxonomy compliance must be recorded, and from 2022, companies must also provide evidence of their taxonomy compliance. We support you and your company in implementing the EU taxonomy and fulfilling the reporting obligation by analyzing the requirements, collecting the necessary data and creating the report text.

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Sustainability with Sustainable. Taxonomy implementation made easy.

But how can you and your company implement the requirements of the EU taxonomy?

The introduction to the topic of the EU taxonomy and the technical evaluation criteria is the first step. This is followed by a corresponding classification of the taxonomy-eligible activities according to the six environmental objectives. The requirements of the EU taxonomy with regard to the criteria "Substantial Contribution" and "Do No Significant Harm" are analyzed to ensure successful implementation.

A review of compliance with the technical assessment criteria based on existing documentation and a gap analysis are just as much a part of our service offering as the introduction and analysis of the requirements for minimum safeguards.

For the implementation of the EU taxonomy and integration into the management report or sustainability report of the company, the taxonomy KPIs must also be calculated. We provide support with the preparation and implementation of data collection as well as the analysis and calculation of the KPIs. We also prepare audit-proof documentation in the form of a process description.
To ensure that reporting is carried out successfully in accordance with the requirements of the EU taxonomy, we also offer support in the preparation of the text report in the sustainability report. Coordination with the auditors and the integration of feedback can also be booked.

With our range of services, you and your company can ensure that you successfully implement the requirements of the EU Taxonomy.

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With our support, you and your company can ensure that you meet the requirements of the EU taxonomy and thus make a contribution to protecting the environment.

With the EU taxonomy into a sustainable future.

The EU taxonomy is an important instrument for a sustainable and environmentally friendly economy. It helps to ensure that investments are made in business activities that meet the environmental challenges of our time.

Implement the EU taxonomy in your company.

Your contact person

Fiona Walman

Senior Consultant

49 (89) 215380 872

E fiona.walman@sustainable.de