The Taxonomy is final

Piotr Biernacki

Piotr Biernacki


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Two delegated acts supplementing Regulation 2020/852 have been published in the Official Journal of the European Union. We finally learned the ultimate content of the Taxonomy and we know how companies are to report it in the next annual reports.


The first of these acts [Delegated Regulation 2021/2139] contains the proper so-called Taxonomy, or Technical Screening Criteria. It is a set of different types of economic activity, and for each of them there are specific criteria that must be met in order for the activity to be considered as a significant contributor to the mitigation of or adaptation to climate change and does not significantly harm other environmental goals.


Second act [Delegated Regulation 2021/2178] contains detailed templates according to which companies will report what percentage of their turnover, capital expenditure (CapEx) and operational expenditure (OpEx) is compliant with the Taxonomy. The regulation also specifies how to count turnover, CapEx and OpEx, and what additional information should be included in the report, apart from the completed tables.


In the first year, i.e. in the reports for 2021 published in the first months of 2022, companies will report Taxonomy issues in a simplified manner. From the next year, it will be necessary not only to fully report compliance with the Technical Screening Criteria, but also in relation to the other four environmental objectives. The criteria for these goals, i.e. the protection of water and marine resources, the development of a circular economy, the prevention of pollution and the protection of biodiversity and ecosystems, are known today in the form of a draft, and in the first months of 2022 they will take the form of subsequent annexes to the delegated act.


Taxonomy reporting is a new and complex obligation. It usually takes companies from several weeks to several months to solidly prepare for it. In the coming days, the European Commission will publish FAQs containing answers to a number of questions regarding this obligation. MATERIALITY experts participated in identifying the most common and difficult problems faced in recent months by companies preparing for reporting, and an appropriate set of questions was submitted to the European Commission. The answers will be published soon. If you want to find answers to your questions about Taxonomy today or you need support in preparing for reporting, please contact us.

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