The reporting requirements associated with the taxonomy and the determination and calculation of the corresponding "green" financial indicators will still present companies with challenges in fiscal year 2021.
Together with the Annex, this results in concrete technical assessment criteria for the classification of taxonomy-compliant activities and their presentation in reporting. The European supervisory authorities – including ESMA – have already issued recommendations for action on Article 8 of the Taxonomy Regulation.
It is therefore essential for companies to start categorizing their economic activities in good time in order to prepare adequately for the upcoming reporting obligations. The central element here is the classification on the basis of NACE codes as "taxonomy-relevant" activities and the assessment with regard to "taxonomy conformity".
As early as in the 2022 reporting year, the disclosure of taxonomy relevance for the environmental goals "climate protection" and "adaptation to climate change" is mandatory for the 2021 financial year. In addition, there will be a separate focus in the future on determining so-called "enabling" activities in accordance with Article 16 of the Regulation as well as "transition" activities relevant in relation to the environmental goal "adaptation to climate change".
In this context, we have analyzed the annual reports of DAX as well as MDAX companies and compared them regarding their "taxonomy performance" and aggregated them in a dashboard.
The links below will lead you directly to our dashboard and enable you to display various KPIs, industries, taxonomy activities, etc. and conduct corresponding comparisons.
DAX: Benchmark Analysis - EU Taxonomy FY 2022 | Tableau Public
In order to meet these requirements, we are happy to support you with our interdisciplinary team. We would be happy to develop a tailor-made advisory approach with you.
If you are interested and have any questions, please do not hesitate to contact us.
Do you have any questions about our services or WTS Advisory? We look forward to your message or your call!