Tag: taxonomy

August 30, 2021

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.

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.

What

Watch our event to learn:

What the EU Taxonomy Regulation implicates
What the current timeline for the Taxonomy looks like
Which requirements apply to your company and when
What the compliance process looks like
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.

When

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.

June 8, 2021

The EU 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 specifies 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 contribute to the Green Deal objectives.

EU Taxonomy 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

Account Manager, Senior Consultant

katrine.hoset@ecobio.fi

+358 (0)20 756 2306

EU Taxonomy classification and reporting in 2023 – Eight steps to compliance – whitepaper

This whitepaper aims to provide implementation guidance on EU Taxonomy Classification and Reporting requirements valid from 2023. The document deals with the actions needed by companies in the non-financial sector. Read the latest whitepaper to learn more about:

What is the EU Taxonomy Regulation?
Which companies are required to act now?
Eight steps for compliant EU Taxonomy classification and reporting from 2023

You can download our whitepaper here!

Text: Emma Björkqvist

Picture: Shutterstock

May 21, 2021

Five Steps to Comply with the Taxonomy Regulation

DOWNLOAD OUR COMPREHENSIVE AND CONCISE WHITEPAPER TO LEARN THE FIVE STEPS NEEDED TO COMPLY WITH EU’S TAXONOMY REGULATION HERE!

Through the European Green Deal, EU aims to improve the well-being and health of citizens, make Europe climate-neutral by 2050, and protect, conserve, and enhance EU’s natural capital and biodiversity. Reaching these goals require a financial system that is more sustainable than it is today as EU aims to channel private investment into the transition to a climate neutral, climate resilient, resource-efficient, and fair economy. The EU’s Sustainable Finance package is one of the instruments of the EU Commission for delivering the policy objectives defined under the European Green Deal, and for delivering on EU’s international commitments on climate and sustainability.

To accommodate the need for a more sustainable finance sector, EU released the EU Taxonomy Regulation on the 12^th of July 2020. The EU Taxonomy Regulation and EU’s Sustainable Finance Strategy was strengthened with the release of the Sustainable Finance Package on the 21st of April 2021. The package included, among others, the release of the EU Taxonomy Climate Delegated Act and a proposal for a Corporate Sustainability Reporting Directive which revises the NFRD.

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. The criteria also provide a common language that allows companies and investors to communicate credibly about green activities and assist the transition to a low-carbon economy.

Reach and maintain compliance with EU’s Taxonomy Regulation in a constantly moving situation

We have published a comprehensive and concise free whitepaper that 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!

Ecobio helps meet the Taxonomy Requirements

Do you need expert help? Do you consider software solutions? 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 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!