EU Taxonomy Timeline

EU taxonomy timeline outlines the phased implementation of the EU Taxonomy Regulation, starting from 2021 with the first set of technical screening criteria for climate change objectives, and extending to 2024 with additional criteria for other environmental objectives.

The EU Taxonomy Regulation (EU 2020/852) first entered into force in the summer of 2020 and was extended with the technical screening criteria for the two first environmental objectives, climate change mitigation and climate change adaptation, and further requirements for reporting taxonomy information in December 2021. Technical screening criteria for the remaining environmental objectives were published 21.11.2023 and applies from 1.1.2024.

EU Taxonomy timeline from 2021 to 2023

First defined activities – The climate change related environmental objectives

The technical screening criteria for the first activities defined under the EU taxonomy were published 9.12.2021 as part of the climate delegated act (EU 2021/2139). This first set of activities with screening criteria covered 94 activities under 9 sectors for climate change mitigation (CCM), and 101 activities under 13 sectors for climate change adaptation (CCA). The sectors with most activities defined were manufacturing, energy, water supply and related activities, transport and construction and real estate. All companies covered by the scope of the EU taxonomy have needed to report on eligibility and alignment for these activities since 1.1.2023.

🔎 Addition of nuclear energy and gas

Nuclear energy and natural gas (fossil gas) were not included in the original publication of the technical screening criteria for the climate change objectives (Climate Delegated Act), but was added as an amendment approved by the EU Parliament and published 15 July 2022 (Complementary Climate Delegated Act).

Both the Climate Delegated Act and the Complementary Climate Delegated Act have been debated and opposed by some. Gas is a fossil fuel and is not green, and nuclear energy, although a low-carbon energy source, has a potential to cause environmental damage that would violate the Do No Significant Harm criteria. Regardless, both gas and nuclear energy are deemed to have an important role in the transition to sustainable energy sources.

The strict conditions for Including nuclear energy and gas in the Taxonomy is based on a technical report on the do no significant harm aspects of nuclear power, reviews of this assessment, and the Platform on sustainable finance’s Response to the Complementary Climate Delegated Act.

💡 All companies covered by the scope of the EU taxonomy have needed to report on eligibility and alignment for these activities since 1.1.2023.

Timeline for further additions of activities is following: Amendments of technical screening criteria and further additions of activities In November 2023, further amendments to the climate-related objectives were published as a new delegated regulation (EU) 2023/2485. These amendments update and correct several technical screening criteria and add further activities to the climate-related objectives.

EU Taxonomy timeline from 2024 and Onwards

The environmental delegated act was published in November 2023 and apply from 1.1.2024. With this addition, further 6 activities were added under the objective water and marine resources, 6 under pollution prevention and control, 21 under circular economy, and 2 under biodiversity and ecosystems. In addition, 7 activities were added under CCM and 4 under CCA.

💡  The environmental delegated act states that companies need to report eligibility to these new activities from January 2024 and alignment from January 2025.

Further activities are expected to be added to both the Climate delegated act and Environmental delegated act regularly.

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