Taxonomy Disclosures Delegated Act : a guidance document

The Commission adopted a guidance document, addressing frequently asked questions on the interpretation and implementation of the Taxonomy Disclosures Delegated Act

It will help the financial market participants concerned prepare their first mandatory reporting exercise in 2024. By further increasing the usability of the sustainable finance framework, it helps companies on their transition journey. There is no trade-off between competitiveness and sustainability: the financial sector, by adapting its business models to sustainability, will remain competitive.

The document covers the reporting obligations of large financial undertakings and financial undertakings admitted to trading on EU markets relating to how they finance, invest in or insure taxonomy-aligned activities. It provides clarification as regards the scope of entities subject to the reporting obligations, the taxonomy assessment of specific exposures such as to retail clients, local authorities and exposures to individual undertakings and groups.

It also considers the rules pertaining to the verification and evidence of compliance with the EU taxonomyand targeted questions specifically related to credit institutions, insurance undertakings, and asset managers.

Download the guidance document

Related document

EU taxonomy for sustainable activities

Implementing and delegated acts - Taxonomy Regulation

Source : Commission, december 2023

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