Summary
This position paper reflects Cefic’s views on the draft Delegated Acts on the four remaining environmental objectives of the EU Taxonomy Regulation and amendments to the Climate Delegated Act. Cefic acknowledges the work done so far by the Commission and the opportunities to provide feedback on the Sustainable Finance Agenda, while highlighting the challenges faced thus far by companies in reporting requirements
Cefic calls for:
- Sufficient lead time for reporting: Cefic advocates for a phased approach to reporting, recommending voluntary reporting for 2024 and mandatory reporting by 2025 to allow companies to adjust systems.
- Clarification on reporting activities: Cefic urges the Commission to clarify if companies should report on activities that have a “support” function, or only on those activities with a “revenue generating” function.
- Support transition journey of companies: The Taxonomy should allow for adequate flexibility for its incorporation into its business models and it should not penalize those making transitioning efforts