Starting Jan 2022 some … hmm.. plenty of companies will have to comply to EU’s Taxonomy rules in order to transform to sustainable business. But with thousands of pages will this work?
In 2020 the EU adopted the so-called Taxonomy regulation. It is aimed to become one of the major tools for climate transition until 2050 and will have/has an impact on many other regulations
The regulation shall:
- create transparency on whether your business is sustainable from a climate perspective or not
- change the financial flows, public and private, to support green investments and transformation to a sustainable economy
- abolish green-washing practices
Taxonomy goes in line with EU’s environmental objectives:
- climate change mitigation and adaptation
- use and protection of water and marine resources
- circular economy
- pollution prevention
As one can imagine this might … this will be a tough job for the lawmakers. To make it happen besides the main taxonomy regulation, several delegated acts, interconnections to other legislative acts and most importantly technical screening criteria will be adopted.
The first one is already in preparation with the expected date of the application already in January 2022… and with 400 pages of definitions. So this will be a tough job also for thousands of companies which will have to comply with the regulation…
And how green are you?
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