What is the EU taxonomy?
What is the EU taxonomy?
Sustainability is not only changing from an optional extra to an obligation, but is the central innovation opportunity for companies and organizations – something we at msg experience every day with numerous of our customers. Discover below the key challenges that companies in the automotive & manufacturing sectors are currently facing as a result of the EU taxonomy.
The taxonomy regulation is an instrument of the European Union to channel financial resources into environmentally sustainable activities, thereby contributing to the achievement of Europe's goal of climate neutrality by 2050.
Goals of the EU taxonomy
The taxonomy regulation sets out six environmental objectives in Art. 9.
In addition, the EU taxonomy provides technical screening criteria for economic activities that can be classified as environmentally friendly. In doing so, it sets transparent standards to avoid greenwashing.
What does this mean for the automotive industry?
The EU taxonomy in the automotive industry has several goals:
- Financial incentives to encourage innovation: To accelerate the transition to a sustainable automotive industry. Environmentally harmful practices are to be reduced by promoting investments in sustainable technologies and solutions.
- Transparency and trust: The taxonomy regulation establishes uniform criteria that organizations need to meet in order to qualify as sustainable. This ensures that organizations provide transparent information about their environmental impact and prevents greenwashing. Consumers can thus make informed decisions.
- Contribution to climate protection: Investments in low-emission transport, in the development of a charging infrastructure, in circular the economy and in the improvement of energy efficiency of vehicles are classified as environmental friendly. This is intended to reduce the impact of the transport sector on climate change.
Which companies are affected?
"The implementation of the EU taxonomy presents many organizations with previously unknown challenges. I regularly experience that the implementation effort is significantly underestimated. However, to leverage the necessary changes as a critical competitive advantage, organizations must realize the scope of the change and start doing early on."
Karen Schulze, Senior Business Consultant
We support you from A to Z – msg’s service offering & your added value
We are happy to support you from the beginning through to the complete implementation of the EU taxonomy. You decide whether you would like us to support you only in an advisory capacity or also in terms of IT implementation. Together, we select the modules from the msg 5-phase model that best suit your needs, culminating in the complete implementation of the EU taxonomy.
