EU Taxonomy - Milestone for Sustainable Business

Oct 10, 2023
What makes the EU framework so unique is its comprehensive approach. For the first time, sustainability and investment activities have joined forces: this close relationship between economics and sustainability is opening up a new dimension. In the future, banks and institutional investors will also have to prove how sustainable their investments are. The EU Taxonomy Regulation sets out precise criteria for environmentally sustainable economic activities. As an important component of the European Green Deal, with which the global community of nations aims to become climate-neutral by 2050, the taxonomy serves several purposes:
  • Increase sustainable and green investments,
  • create security for investors,
  • protect private investors from greenwashing,
  • soften market fragmentation,
  • and contribute to shifting investments to where they are needed the most.

Milestone for sustainable business

The taxonomy uses very specific criteria to define the extent to which a company's products and services contribute to the total of six environment targets specified by the EU and how the activities are to be assessed from a sustainability perspective.
  • Climate protection through the reduction of greenhouse gases
  • Climate impact adaptation
  • Sustainable use and protection of water and marine resources
  • Transition to a circular economy, recycling, and waste prevention
  • Pollution prevention and control,
  • Protection and restoration of biodiversity and ecosystems.

The EU Taxonomy encompasses a standard set of definitions for sustainable activities centered around six environmental objectives:

Even though these reporting requirements don’t affect all organizations, no one can evade responsibility. Anyone who wants to do business in and with Europe in the future must make a commitment. Because even a medium-sized company must provide its customer with the data for complete conformity so that the client can document its supply chain. This is why DEKRA offers suitable sustainability services for small as well as large companies.

Managing organizations sustainably

With its sustainability services, DEKRA provides the basis for organizations to meet all legal and social requirements efficiently and effectively. In doing so, the experts also look at international locations and the supply chain as required. In addition, the sustainability experts specialize in preparing for upcoming ratings and rankings. As a comprehensive solution provider, DEKRA supports the entire sustainability journey, from the initial analysis of the status quo to gap assessments and the implementation of measures. Together with the customer, they define a tailor-made sustainability strategy and develop roadmaps to reach ecological and social targets. Sustainability guidelines for upcoming ratings and suitable training courses on environmental and social topics complement the DEKRA portfolio.

Embedding environmental awareness

The goal is to integrate sustainability and environmental awareness as fixed components of your business activities and to generate long-term impact. The DEKRA experts are committed to the cause of sustainability and support their customers on the path to a sustainable future. Whether it’s for a medium-sized company or a corporate group — DEKRA provides tailored and consistent support throughout the entire journey from sensitization to training and consulting to testing and authentication.