The EU Taxonomy is the cornerstone of the EU’s sustainable finance framework and an important market transparency vehicle, enabling direct investments to the most crucial economic activities in order to accomplish a green transition.
The Taxonomy is a large Regulation covering a number of sectors and economic activities. In addition to the Taxonomy, EU have already adopted a few Commission Delegated Regulations (so called 'Level II-regulations') to drive the implementation forward. Some additional Level II Regulations are now included in the new package, providing a substantial contribution to one or more of the non-climate environmental objectives in the Taxonomy, namely:
- sustainable use and protection of water and marine resources,
- transition to a circular economy,
- pollution prevention and control,
- protection and restoration of biodiversity and ecosystems.
In addition, the EU Commission has made specific changes to already adopted Level II Regulation: the EU Taxonomy Climate Delegated Act, with amendments focus on including economic activities in the manufacturing and transport sectors.
Read the newly adopted EU Taxonomy Delegated Acts here.