Summary
The position paper addresses the EU Taxonomy Regulation and its implications for the chemical industry. Cefic emphasises the need for clear definitions and coherence with existing reporting requirements to avoid misinterpretation and ensure compliance. The paper highlights the importance of flexibility for companies to adapt to changing reporting obligations and the necessity for a proportionate approach to implementation. Cefic also calls for consideration of international circumstances and alignment with global standards.
Key takeaways:
- Clarify the scope of the reporting obligation for financial year 2021 for the main KPIs
- Clarify and improve existing definitions on key terms
- Improve usability and implementation of reporting templates