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Three steps for EU Taxonomy Reporting – Deadline coming soon

Three steps for EU Taxonomy Reporting – Deadline coming soon

Are you ready to report EU Taxonomy eligibility as a non-financial entity? In the EU, this year will be the first EU Taxonomy reporting period to disclose in 2022 for non-financial listed companies with over 500 employees on average during the reporting period (Prop. 2021/22:11).

During the first year, non-financial companies shall disclose the proportion of total turnover, total CapEx and total OpEx that consist of environmentally sustainable economic activities eligible with the EU Taxonomy. I.e., the activities within one of the defined categories for which the Taxonomy regulation provides sustainability criteria. Reporting on eligibility already in 2022 will ensure that companies required to report complete KPIs on Taxonomy alignment from 2023 will be better prepared for the work of classifying and defining the financial reporting level necessary to comply with the Taxonomy regulation.

Three steps for EU Taxonomy Reporting

The following three steps guides reporting for the first year:

Step 1. Economic activity. Identify each potential economic activity, including a subset of transitional and enabling economic activities

Step 2. Eligibility. Assess eligibility by comparing your economic activity with the Taxonomy defined activity category descriptions and NACE codes.

Step 3. Reporting KPIs. Report eligibility as the proportion of total turnover, total CapEx and total OpEx, including relevant contextual information on how eligibility has been determined and implemented in the necessary calculations.

The turnover KPI represents the proportion of the net turnover derived from products or services that are taxonomy eligible. The turnover KPI gives a static view of the company’s contribution to environmental goals.

The CapEx KPI represents the proportion of the capital expenditure of an activity that is either already taxonomy-aligned or is part of a credible plan to extend or reach taxonomy alignment. CapEx provides a dynamic and forward-looking view of companies’ plans to transform their business activities.

The OpEx KPI represents the proportion of the operating expenditure associated with taxonomy-aligned activities or the CapEx plan. The operating expenditure covers direct non-capitalised costs relating to research and development, renovation measures, short-term lease, maintenance, and other direct expenditures relating to the day-to-day servicing of property, plant and equipment assets that are necessary to ensure continued and effective use of such assets.

The European Council will make a final decision about the schedule on the 8th of December, 2021.

Digitalise your EU Taxonomy work process

With the deadline for the first reporting requirements regarding EU Taxonomy is approaching, it is beneficial to already from the beginning take advantage of the efficiency offered by digitalisation. Ecobio Manager is the world’s first comprehensive taxonomy solution, including a smooth classification process and up-to-date legal databases, as well as an environmental risk assessment protocol. So far, there has been no service with similar coverage in the global market.

With Ecobio Manager, you can turn the complex set of EU Taxonomy reporting requirements into a smooth and straightforward digital work process for your team. The digital solution includes a demanding entity of requirements always available and effectively managed. Our easy and comprehensive tool contains everything you need to meet the requirements of EU Taxonomy classification and reporting

Get expert advice and join our presentation

Presentation of our digital solution

Do you need help with EU Taxonomy classification and reporting? Join our presentation of the world’s first comprehensive digital solution for the EU Taxonomy! During our 30 min presentation, we present our easy and comprehensive tool containing all you need to meet the EU Taxonomy classification and reporting requirements.

Register here!

Expert advice and personal demo account

Do you have questions regarding EU Taxonomy and need advisory? Do you want a presentation of our digital solution regarding EU Taxonomy? Contact our EU Taxonomy expert Katrine Hoset to get expert advice and an in-depth presentation of the comprehensive solution. Do not hesitate to ask our expert about a personal demo account to try out our platform.

Please get in touch with us

Katrine Hoset

Account Manager, Senior Consultant


+358 (0)20 756 2306

Read more about our EU Taxonomy digital solution here and our sustainable finance consultancy services here.

Ecobio launched the world’s first comprehensive digital solution to comply with the EU Taxonomy Regulation

Ecobio launched the world's first comprehensive digital solution to comply with the EU Taxonomy Regulation
The Ecobio team at the launch event 29.9. From left: Taru Halla, Emma Björkqvist, Katrine Hoset, Sanna Perkiö & Evelina Meski

The EU environmental classification legislation for sustainable finance, in short, EU Taxonomy Regulation, is a large-scale, regulatory-based framework that requires companies to define environmentally sustainable economic activities. The regulation is an EU tool to steer the economy towards sustainable development. Companies will have to meet the requirements gradually from the beginning of 2022.

The EU Taxonomy Regulation obliges large, listed companies and companies operating in the financial markets to classify, assess and disclose their economic activities in accordance with sustainable development criteria. In the future, the Taxonomy Regulation will apply to a broader range of business entities.

Companies are now preparing to comply with the requirements of the EU Taxonomy Regulation. To date, little assistance has been available for companies to assess the conformity of a large-scale classification system and to report data.

Ecobio Manager aims to solve the EU Taxonomy challenge of over ten thousand companies

Today, Wednesday, September 29, 2021, Ecobio announced the world’s first comprehensive and easy-to-use digital solution to meet the requirements of the EU Taxonomy Regulation. The solution is implemented as part of the Ecobio Manager SaaS service. Ecobio Manager is an environmental compliance tool for business operations, products, and subcontractors as a cloud service.

– Ecobio Manager is the world’s first comprehensive taxonomy solution including a smooth classification process and up-to-date legal databases, as well as an environmental risk assessment protocol. So far, there has been no service with similar coverage in the global market, said Sanna Perkiö, D.Sc., founder, and the Head of Development of Ecobio.

The EU Commission has created a complex system, which may result in companies getting lost in the requirement jungle without expert help and a systematic way of working.

– We offer over ten thousand companies in the EU an easy and competent digital solution to meet the requirements of EU Taxonomy. Feedback from listed companies and the financial industry has been both enthusiastic and relieved.

From the beginning, companies should take advantage of the efficiency offered by digitalization, Perkiö suggested.

– The first requirements of the taxonomy must be reported as early as next spring. We expect wide interest and customers from all over Europe.

Read more about our digital solution for EU taxonomy here.

You can find all of our recorded webinars from our webinar library here.

Webinar 29.9: Comply With the EU Taxonomy Regulation


Are you trying to comprehend the EU Taxonomy regulation and what it means for your company? Do you want to find out the benefits of digitalisation in meeting the requirements? This event is for you.

Register here!

In our webinar, our senior consultant Katrine Hoset, PhD, will go through the EU Taxonomy Regulation and how financial and large companies can fulfil the new classification and reporting requirements in sustainability. The Taxonomy Regulation is already in force, and reporting against two of the objectives is required already in 2022 for the financial year of 2021. As the regulation is constantly being updated, we will present the newest details covered by the legislation.

Additionally, we will launch Ecobio’s new digital solution to ensure compliance with EU Taxonomy classification and reporting requirements. We will present the new SaaS in Ecobio Manager that turns the complex set of requirements into a simple and smooth work process for your team. With the requirements for EU Taxonomy soon coming into effect, it is beneficial to have an innovative, efficient, and in-depth solution in mind already now to get the process toward compliance started. The launch includes a panel discussion among the creators of the tool, and questions from the audience will be discussed live.


Watch our event to learn:

  1. What the EU Taxonomy Regulation implicates
  2. What the current timeline for the Taxonomy looks like
  3. Which requirements apply to your company and when
  4. What the compliance process looks like
  5. About our new digital solution for EU’s Taxonomy Classification and Reporting

During the event, you will get an opportunity to ask questions from our experts.

To Whom

The intended audience of this webinar is corporate board members and management teams in sustainability, finance, and communication. Both financial market participants (FMPs) and large companies that already need to provide a non-financial statement according to the non-financial reporting directive (NFRD) will be affected by the regulation.

Are you unsure whether you are in or out of the EU Taxonomy classification and reporting requirements? Take our quiz and determine whether your company is affected by the EU Taxonomy regulation. Test here.


The free online event will be held in English on Wednesday, 29.9.2021, from 9.00-10.00. Timetable:

  • 9.00-9.30: Comply With the EU Taxonomy Regulation (webinar)
  • 9.30-10.00: Launch of Ecobio’s new digital solution to ensure compliance with EU Taxonomy classification and reporting requirements

You can register here!

Our recorded webinars can be found on our homepage

In our webinar library, you can find our recorded webinars that you can watch whenever you find most suitable for you! You can find our webinar library here.

The EU’s Taxonomy and KPIs

The EU's Taxonomy and KPIs

The European Commission has published a draft version of a Delegated Act to supplement article 8 in the Taxonomy Regulation (EU) 2020/852. This supplementation specifies the content and presentation of the information concerning environmentally sustainable economic activities and specifying the methodology to comply with that disclosure obligation.

EU strives to channel capital towards sustainable investment

One of the key objectives of the European Commission’s action plan on financing sustainable growth is to reorient capital flows towards sustainable investment and ensure market transparency. To achieve this, EU Taxonomy (EU 2020/852) was created, a classification system for sustainable activities. The EU Taxonomy is a robust and science-based tool for companies and investors that provides criteria for determining which economic activities substantially contributes to the Green Deal objectives.

Common KPIs to help understand companies’ sustainability

The drafted Delegated Act further specifies the content, methodology, and presentation of the information in the Taxonomy Regulation. The Delegated Act allows companies to translate the technical screening criteria of the Climate Delegated Act (and in the future Environmental Delegated Act) into quantitative economic performance indicators, KPIs, which will be publicly disclosed. This helps investors and the public to better understand the companies’ impact towards sustainability trough the annual publication of their KPIs. This will increase transparency on the market and help prevent greenwashing.

The Taxonomy Regulation and the published Delegated act complement the NFRD (Non-Financial Reporting-Directive) and SFDR (Sustainable Finance Disclosure Regulation) by providing a common reference point for reporting the degree of alignment with sustainable activities.

Market fields receive separate instructions for reporting

The Taxonomy-related disclosures will create an entire ecosystem of sustainable finance tools, including standards, labels, and access to a coherent and relevant set of sustainability data. These on the other hand are necessary to channel capital towards the investments needed to reach the EU’s sustainability goals.

The Delegated Act includes separate instructions for different market fields regarding sustainable reporting with KPIs. These fields are non-financial undertakings, asset managers, credit institutions, investment firms, and insurance and reinsurance undertakings.

The drafted delegated act was open for feedback until 2 June. A lot of the feedback highlights the need to simplify and clarify the KPIs that should be reported, inconsistencies between reporting deadlines and availability of data, and a potential need for a longer transition period before reporting starts. Commentaries have also commented on the need to better align the reporting scope and application timelines in this delegated act with the CSRD (Corporate Sustainability Reporting Directive, the proposed amendment of the NFRD).

The challenge of reaching compliance with the Taxonomy Regulation

Many of the respondents that commented on the Commission’s publishment mentioned the challenge of collecting Taxonomy compliance data within companies and assigning this data to specific business lines. Ecobio’s sustainability experts familiar with the Taxonomy requirements and experts in EHS requirements will help your company meet the expectations of the Taxonomy Regulation. Ecobio’s sustainable finance services helps you to identify your sustainable economic activities and report your alignment with the Taxonomy. Read more about our services regarding Sustainable Finance here!

With our Ecobio Manager legislation compliance tool, companies can assess compliance with the do-no-significant-harm requirements and minimum safeguards as well as follow up on relevant legislation development. Read more about Ecobio Manager here!

Do you want to hear more? Kindly contact us:

Katrine Hoset

Katrine Hoset

Account Manager, Senior Consultant


+358 (0)20 756 2306

Five steps to comply with the Taxonomy Regulation – Whitepaper

Our comprehensive and concise free whitepaper helps your company reach and maintain compliance with EU’s Taxonomy Regulation in a constantly moving situation.

Do you want to know what the EU’s Taxonomy Regulation implicates and who are affected by it? Are you curious about the current timeline and what requirements apply to your company? These are just some of the questions our whitepaper answers as well as presenting the five steps to meet the requirements!

You can download our whitepaper here!

Text: Emma Björkqvist

Picture: Shutterstock

UN Global Compact and Sustainable Development Goals



Global Compact is a UN initiative in which companies commit to ten principles regarding human rights, labour standards, environment, and the fight against corruption. UN Global Compact was launched in 2001 and the initiative has since been joined by more than 12 700 companies and 3 000 other organisations totally from 160 different countries. Companies involved in the Global Compact are required to annually report their compliance with the principles to UN.

Agenda 2030 by UN for sustainable development aims to eradicate extreme poverty and focus on sustainable development that considers the environment, economy, and people equally. The underlying principle of the program is that no one is left behind in development. The aim is to change global development into a balance between human well-being, human rights, economic prosperity and the stability of societies in an environmentally sustainable way. In addition, extreme poverty in all its forms will be eradicated from the world. States, decision-makers, and citizens are all needed to achieve the goals of sustainable development.

Ecobio’s brochure provides a digital solution to companies

Our comprehensive and concise free brochure helps companies globally manage their commitment to UN Global Compact and related legal requirements across the organization. Are you looking for a professional but straightforward tool to achieve your goals together with your team? We have a digital solution for you.

The brochure is intended for participants in UN Global Compact and for corporations committed to the sustainable development goals (SDGs). Our brochure is constructed by experts at Ecobio and is in PDF-format so that you can easily read it on your computer, phone and even print it out if needed!

The brochure is in English.

You can download our brochure here!

Ecobio Manager helps companies reach the goals of sustainable development

Are you interested in further discussions and a demo presentation of our Ecobio Manager? Our experts are glad to help you!

Kindly contact us!

Malena Weurlander

Malena Weurlander – Key Account Manager


+358 (0)20 756 9459


You can find all of our whitepapers, guides, and brochures from our new library!

Did you know that you can find all of our published whitepapers, guides, and brochures from our new library on our homepage? You can find our library here!




New in Sustainable Finance


Sustainability runs capital. During the last 10 years the capital in sustainable indexes has doubled. During the last year sustainability indexes that concentrate on environmental (E), social (S) and governance (G) have had higher returns than their non-sustainable competitors both on the European and North American market. As there are several indexes it can be difficult for investors to understand what they contain and how to compare them. The European Union strives to make the indexes more comparable and transparent by creating new directives and therefor creating a stronger and cleaner economy.

EU leads capital towards sustainability

The new laws concerning sustainable finance by the European Union leads towards sustainable investing by a creation of clearer definition of tools and obligations of sustainability reporting and -valuation. To support this, the European Union has published the EU Taxonomy Regulation for sustainable development. The Taxonomy Regulation contains harmonic criteria that define whether the economic activity is sustainable from the nature’s perspective. The classification contains e.g., climate change, water resources, and circular economy. The creation of the taxonomy regulation unites sustainable reporting which makes it easier for investors and other financial actors to make their investment decisions. The classification is new for companies and it is profitable to start preparing for them already now.

Additionally, the European Commission will approve a directive in June 2021 that specifies the reporting among non-financial information. The directive defines how and how widely companies must report according to the above-mentioned Taxonomy Regulation.

The first company- and investment reports in accordance with the new Taxonomy Regulation must be published in the beginning of 2022 about the financial information from 2021.

You might be interested in our webinar recording“New in Sustainable Finance: How to apply EU’s taxonomy regulation and reporting requirements” 

Are you interested in sustainable finance? Are you familiar with the new classifications and reporting requirements in sustainability by EU? Have you wondered how you should prepare to meet the obligations?

Welcome to hear more about sustainable finance, the new obligations and how one should prepare to develop the reports. Our expert will go through EU’s Taxonomy Regulation in our webinar recording.

Read more and watch the webinar here!

Text: Sanna Perkiö

Photo: Shutterstock


Kauppalehti 5.1.2021. ”Vastuullisuus sai vauhtia koronasta”


We are looking for a EHS-specialist to join our consultancy team


Do you specialize within occupational health and safety? Do you want to work with sustainability in a team of experts? Do you handle even the most demanding parts of occupational health service-, occupational safety- and environmental legislation and the company specific requirements?

We are looking for an expert within occupational health service, occupational safety and environmental issues to join our versatile sustainability consulting team. Read more about the recruitment here and apply to join our team.

Text: Emma Björkqvist

Picture: Shutterstock

Global Standard for Nature-based Solutions

Biodiversity, honey bee. Nature-based solutions NbS

At the end of July, the International Union for Conservation of Nature (IUCN) published a global standard for the use of nature-based solutions (NbS) to address global environmental challenges. The standard helps governments, businesses, and societies to assess the effectiveness of nature-based solutions and make the most of them to manage societal challenges such as climate change, biodiversity loss and food security.

As countries all over the world strives to emerge from the Covid-19 pandemic and move towards the UN Sustainable Development Goals, it is crucial to ensure that future investments in nature reach their potential. To help businesses and societies address this challenge, the first-ever IUCN Global Standard for Nature-based Solutions was launched to guide the institutions through NbS applications and set benchmarks for their progress.

What is Nature-based solutions and why is a standard needed?

Nature-based solutions (NbS) are actions that seek to address social challenges through the protection, restoration, and sustainable use of natural or modified ecosystems, and thereby improving the well-being of both biodiversity and people. Examples of NbS are reforestation, beach protection and green infrastructure. These all benefits both the nature and people.

There is a need for a standard to guide this kind of activities because not all solutions called nature-based are in themselves a guarantee that they take into account the well-being of both society and nature. Because of the lack of knowledge, many activities may unintentionally harm the biodiversity. The working group of the International Union for Conservation of Nature (IUCN) therefore wanted to develop a scientifically valid criteria that would be suitable for a wide range of situations, regions and social systems, so that both people and nature would benefit in the long term. Such a framework is essential to increase the scale and impact of Nature-based Solutions, to prevent negative outcomes or misuse, and help funding agencies, policy makers and other stakeholders assess the effectiveness of interventions, and direct investments in the right direction.

How does the standard work?

The Global Standard for NbS is a self-assessment tool consisting of eight criteria and related indicators, addressing all three pillars of sustainable development: biodiversity, economy, and society. The criteria also take into account sustainable project planning and management. The requirements of the standard allow the user to assess the scope and economic, environmental, and social impact of their own activities and then compare it with international agreements and objectives. At the same time, the transparency of operations is improving and operations can be continuously improved.

The standard contains indicative instructions and advice on how the user can evaluate and develop his or her own nature-based solutions and, on the other hand, see which practices still need to be improved. The standard evaluation matrix provides the user with information on how many percent of the user’s activities meet the criteria. The information is presented in color codes reminiscent of a traffic light system, from which the user can easily see which actions still need to be developed. IUCN, who monitors the standard, reviews the aspects and requirements of the standard every four years, so that their suitability for companies and actors in various fields can be improved.

Companies and other actors using the framework will be able to design effective and ambitious sustainability-based NbS, that facilitate discussion with stakeholders and, on the other hand, spark new ideas and innovations.

Need help?

Ecobio’s environmental experts help your company achieve the goals of sustainable development!

Contact us: info@ecobio.fi

Text: Mai Kärppä & Caisa Lindblom, Ecobio oy

Picture: Shutterstock




COVID-19 impacts on Climate Change

covid19 air pollution facemask

How are Climate change and COVID-19 linked? Can the measures taken to battle COVID-19 have a positive effect on the climate? 

On a certain level, parallels can be drawn between the COVID-19 pandemic and other contemporary crises that we are facing today, such as climate change. These kind of global crises all require a global-to-local response, long-term thinking, new research and innovations and a political will to make fundamental changes. (Weforum, Climate Foresight)

The COVID-19 virus that started in 2019 in a small wet market in Wuhan, China, has become a global pandemic over the period of a few months and has already had a seemingly big effect on our daily lives.

A topic that has been discussed over the internet and in numerous articles in the media concerns how governments are able to respond so fast to COVID-19, even with the risk of a collapsing economy, while the battle against climate change seems to be too hard and sensitive to tackle. Keeping in mind that the expected deaths per year due to climate change are estimated to be over 10 times higher than those from COVID-19, this is an important question. The answer remains deeper and more versatile than this, but some of the reasons are simple: COVID-19 is happening right now, it is visible and fast moving and it has an immediate and direct effect on everyone and anyone. The measures are also more straightforward. Governments have been given priority lists of compelling their citizens to wash more, stop touching, reduce travel and go into some degree of isolation. In contrast, the variety of solutions to fight climate change are perplexingly complex. And the solutions affect nearly all aspects of modern life. (Ecowatch)

COVID-19 effects on the climate

There has been numerous speculations about whether COVID-19 could stop the rapid increase of temperatures. Across continents, flights are being cancelled, factories closed down, those whose work isn’t critical for the society are holed up at home and as a consequence pollution and greenhouse gas emissions have fallen as countries try to contain the spread.

The New York Times published an article discussing NASA’s satellite imagery showing remarkable reductions in pollutions in China and Italy when the outbreak first started. Furthermore, The Guardian stated that the pandemic could lead to a significant fall in global CO2 emissions.

In China, emissions fell 25% at the start of the year and coal use fell by 40% at China’s six largest power plants since the last quarter of 2019. Similarly, levels of pollution in New York have reduced by nearly 50% compared with this time last year. This is however not the first time an epidemic or global crisis has led to lower emissions. During the financial crash in 2008 the global emissions dropped significantly for a year. (BBC) Global CO2 emissions from fossil fuel combustion and cement production decreased by 1.4 percent, only to rise by 5.9 percent in 2010. (Human Rights Watch)

The flip side of the coin

Some experts are concerned, that the effects of COVID-19 are only going to be short termed. One of the side effects of the virus include delayed or cancelled events and projects. Climate meetings and summits are no exception. Among these is the UN’s annual climate summit 2020, where 196 countries were expected to introduce revamped plans to meet the emission reduction goals, which was postponed to 2021. Furthermore, countries all over the world are postponing green investments and instead directing the money to fight COVID-19. Like so, companies struggling to keep their business running are not likely to make long term green investments in the near future. To act against climate change has never been more urgent. However, the inability to collect world leaders and to direct finances towards green investments might be a hinder to do so.

In the U.S., Environmental Protection Agency announced a rollback on car emissions rules.  The rules were a central piece of the country´s efforts to reduce greenhouse gas emissions. Furthermore, it announced that it will not penalize companies that fail to comply with federal monitoring or environmental reporting requirements. Similarly, China has extended deadlines for companies to meet environmental standards and Brazil has announced it is taking back enforcement duties for protecting the Amazon from accelerating deforestation, which could lead to the release of massive amounts of greenhouse gases. (BBC, Human Rights Watch, Climate Foresight)

What is certain, is that “There is a strong link between economic activity and global carbon dioxide emissions, due to the dominance of fossil fuel sources of energy.” This  means we might be in for an positive surprise due to the coronavirus pandemic: a slowdown of carbon dioxide emissions due to reduced energy consumption. (Centre for International Climate Research)

In summary

  • We’ve seen that governments can act, and people can change their behavior, in a very short amount of time.
  • COVID-19 can have a positive effect on climate change. If this leads to a long-term shift in behavior and a change in our mindset and priorities.
  • The pandemic may lead to a deeper understanding of the ties that bind us globally.
  • Well-resourced healthcare systems are essential to protect us from global crises.
  • Economic activities and global emission rates are strongly linked.

Need help with managing the impacts that COVID-19 or climate change has on your workplace? Our Environmental and Chemical experts are here to help!

Contact us:


+358 (0) 207 569 450


You might also be interested in:

Insights into Covid-19 future effects on energy consumption and cleantech: Future Proof blog by Futures Platform

Text: Caisa Lindblom, Ecobio Oy, caisa.lindblom@ecobio.fi

Picture: Shutterstock

How to measure environmental performance of port operations? 

EPD port services

Did you know that an environmental product declaration (EPD) can be prepared for port operation services? The EPD International (www.environdec.com), a Swedish-based international programme operator, has defined the product category rules for port operation services already in 2018. The first EPD based on these rules has been published by the port of Bilbao. See the EPD for Port of Bilbao here. 

What is an EPD?

The EPD is used for presenting the potential environmental impacts of products or services based on a life cycle assessment. In order to produce comparable declarations, product category rules have been defined for some products, product groups or services. These rules help you produce more comparable EPDs. This way the environmental impacts of different products can be compared. 

Furthermore, the EPD helps you identify the greatest environmental impacts. Once it is known what causes the environmental impacts, it is more efficient to address the actions for reducing the environmental impacts. The EPD is thus one way of showing the level of environmental management. 

The EPD of Bilbao Port operation services has attracted the interest among its visitors, media and other ports. Ecobio encourages other ports to evaluate the environmental impacts of their operations. 

Ecobio’s environmental services

Ecobio’s environmental experts produce EPDs for ports, construction products and other necessary activities. The environmental performance of port operations can also be demonstrated by other means than by an EPD. For example by carbon footprint calculation and compensation, meeting requirements of standards or with the help of environmental strategies. We will help you find the right solutions. Contact us!

Contact details: