Taxonomy for your company
We will prepare a report for you in accordance with the EU system of sustainable economic activities. We will prepare the report on all six environmental objectives required by the European Commission.
What is the EU Taxonomy?
It is one of the key tools of the European Union towards achieving climate neutrality and promoting sustainable economic activity. The basis is the Taxonomy Regulation, which is Regulation 2020/852 of the European Parliament and of the Council of 18 June 2020, which established a framework to facilitate sustainable investment. The legislation introduced technical criteria for determining whether a given economic activity complies with six environmental objectives. They are:
- climate change mitigation,
- adaptation to climate change,
- consumption and conservation of water resources,
- transition to a circular economy,
- pollution prevention and control,
- protection of ecosystems and biodiversity.
The main objectives of taxonomic reporting are:
- facilitate decisions by investors and other financial institutions in line with the Sustainable Development Goals;
- ensuring transparency and a uniform approach to the classification of sustainable economic activities;
- creating consistent reporting standards for companies on compliance with sustainability criteria.
Under the CSRD Directive, EU Taxonomy reporting is mandatory. Companies must provide information on the compliance of their business with the sustainability criteria set out in the system. In addition to the legal obligation, taxonomic disclosures are increasingly required by banks and investment funds, among others.
Our realizations
Marcin Milczarski
Expert in ESG and sustainability, he specializes in strategic and reporting consulting and business linking environmental and social issues (green transformation, risk aggregation, degrowth vs. decoupling). Author of studies in the field of non-financial disclosures, legal-business relations and implementation of ESG strategies. Expert of the Climate Leadership program conducted by UNEP/GRID-Warsaw, academic lecturer. He combines more than 15 years of professional experience in ESG consulting, sector III, academia and marketing/communication.
Do you have any questions? We have the answers!
What is the Taxonomy of the European Union?
It is a framework — sometimes referred to as the ESG Taxonomy — that allows us to systematically, accurately and repeatedly identify which economic activities are environmentally sustainable and which are not.
Who is affected by the EU Taxonomy?
Taxonomy is mandatory, among others, for entities that prepare sustainability reports under the Corporate Sustainability Reporting Directive (CSRD).
What are the objectives of the EU Taxonomy?
This is primarily about transparency and uniform approaches to the classification of sustainable economic activities. Taxonomy facilitates sustainable decision making by investors, banks and businesses.
What are the technical criteria of the EU Taxonomy?
They shall determine whether a given activity complies with the environmental objectives of the Union. These include criteria for greenhouse gas emissions, the consumption of natural resources or the impact on biodiversity.
What will be the consequences of non-compliance with the EU Taxonomy?
Such a situation can result in difficulties in obtaining financing, loss of investor confidence and loss of image.
What are the benefits of EU Taxonomy?
Taxonomy aims to contribute to the transition to more sustainable and responsible business practices, reduce negative environmental impacts and facilitate investment in environmentally sustainable economic activities.
Are taxonomic disclosures subject to verification?
As taxonomic reporting has become an integral part of sustainability reporting, taxonomic disclosures will be subject to audit by a statutory auditor.
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