Piotr Biernacki

Piotr Biernacki


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On 21 April 2021, the European Commission adopted a package of measures related to implementing sustainable finance. The Taxonomy, the Delegated Act 2020/852, is the most anticipated of them.


The Taxonomy determines in great detail criteria that business operations have to meet in order to be considered sustainable. In the coming months, listed companies will have to conduct a thorough analysis of all types of their operations so that they are able to present in their annual report for 2021 what shares of their revenues, capital expenditures and operational costs are related to environmentally sustainable activities.


MATERIALITY carried out a project of analysing compliance with the Taxonomy for LUG S.A. already in 2020. As a result, LUG was the first company in Europe which published in its annual report data on the percentage of its environmentally sustainable revenues and capital expenditures. The outcomes of the project were used, for example, by the EU regulator ESMA in its work on regulatory powers to the Taxonomy regulation. MATERIALITY experts took active part in the work as well.


More information on the approved sustainable finance package can be found here:

Sustainable Finance Package

The approved Delegated Act and the Taxonomy text are available here:

Taxonomy Regulation Delegated Act 2021-2800 English Version

– Appendix 1 – (combating climate change criteria) –

Taxonomy Regulation Delegated Act 2021-2800 Annex-1 English Version

– Appendix 2 – (climate change adaptation criteria) –

Taxonomy Regulation Delegated Act 2021-2800 Annex-2 English Version

The acts will be published in the Official Journal after they are translated in official EU languages.

Illustration: Factsheet: How does the EU taxonomy fit within the sustainable finance framework?

Find out what we do regarding sustainability reporting


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