For the automotive industry, 2023 marks the second year of publishing their European green taxonomy eligibility ratio. As a reminder, the European Union's 'Taxonomy' regulation came into effect on 1st January 2022, concerning the two climate objectives (the Climate Delegated Act).
The objective of the European taxonomy is twofold: to encourage companies to determine their position in relation to the EU’s sustainable transition trajectory and, in doing so, allow financial actors to prioritise the allocation of funding to projects and assets recognised as being the most contributory to this trajectory.
Our Sustainability experts provide an overview of the initial publications related to the three eligibility ratios of the six major EU automakers. Within this analysis, they decode the evolution in ratios published in 2022 and 2023 and highlight the main changes that have occurred this year.
The analysis of the 2023 ratios reveals differences in interpretation, which may be linked to the lack of guidance, or slow adoption of these new obligations. The challenge for manufacturers this year will be to identify which of their activities are eligible for the four other environmental objectives adopted by the European Commission through delegated acts on 13 June 2023, and those relating to the circular economy.
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