The EU Taxonomy is a classification system, establishing a list of environmentally sustainable economic activities, including climate change adaptation. It could play an important role helping the EU scale up sustainable investment and implement the European Green Deal. The EU Taxonomy will provide companies, investors and policymakers with appropriate definitions for which economic activities can be considered environmentally sustainable. In this way, it should create security for investors, protect private investors from greenwashing, help companies to become more climate-friendly, mitigate market fragmentation and help shift investments where they are most needed

The EU Taxonomy Compass provides a visual representation of the contents of the EU Taxonomy, starting with the Delegated Act on the climate objectives, as adopted on 4 June 2021. It aims to make the contents of the EU Taxonomy easier to access for a variety of users and enables users to check which activities are included in the EU Taxonomy (taxonomy-eligible activities), to which objectives they substantially contribute and what criteria they have to meet. It is important to note that minimum safeguards (social standards) have to be met for an economic activity to be considered taxonomy-aligned. 

Reference information

European Commission

Published in Climate-ADAPT Oct 4, 2021   -   Last Modified in Climate-ADAPT Dec 12, 2023

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