The delegated acts on the EU taxonomy that the EU Commission has consulted will not help to make the taxonomy a milestone for the transition to a sustainable low-carbon economy. The technical screening criteria designed to identify which economic activities make a significant contribution to climate change mitigation and adaptation are too narrowly defined. The EU taxonomy's approach of positive classification of economic activities should not mean that economic activities that do not meet the ...

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The European Securities and Markets Authority (ESMA) has consulted on its proposals on disclosure requirements under Article 8 of the Taxonomy Regulation. The timetable until the application of the new reporting requirements by companies is too tight in view of the complexity of the requirements. Additional reporting requirements beyond CapEx, OpEx and revenue should be rejected. Important KPIs, such as CapEx and OpEx, must be defined as in the financial reports. Definitions that deviate from ...

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On the occasion of the trilogue negotiations on the EU taxonomy, Deutsches Aktieninstitut expressed its concerns regarding the design of the taxonomy in a letter to the Permanent Representation of Germany to the European Union. Deutsches Aktieninstitut rejects the extension of the scope to all financial products as proposed in the compromise. If the scope is extended, entire branches of industry could be cut off from financing. The compromise proposal does not sufficiently take into account ...

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In the framework of the hearing of the Finance Committee of the German Bundestag, Deutsches Aktieninstitut commented on Sustainable Finance. The complexity of the planned taxonomy specifications will present companies in the financial and real economy with major challenges. Under no circumstances can the result of the taxonomy be that entire branches of industry are cut off from financing by exclusion or excessively strict requirements. The Deutsche Aktieninstitut therefore rejects the ...

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Deutsches Aktieninstitut participates in the consultation on the taxonomy report of the Technical Expert Group (TEG). Deutsches Aktieninstitut demands that all sectors and industries affected by the taxonomy be included in the debate. The focus on the company perspective is essential for a widely accepted taxonomy. In addition, a practicable taxonomy requires a holistic and comprehensive approach that fits into the present European legal framework.

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After the European Parliament’s decision to postpone the joint vote of the ECON and ENVI committees on the EU Commission’s proposal for a sustainable finance taxonomy, Deutsches Aktieninstitut has again hinted the Committee-members at the concerns of listed companies. While Deutsches Aktieninstitut generally welcomes the EU Commission’s legislative proposal, it opposes the parliamentary position of extending the taxonomy’s scope of application as well as the promotion of a “green” ...

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In its letter addressed to both the ECON and the ENVI committee of the European Parliament on the occasion of the joint committee-debate on the development of a sustainable finance-taxonomy, Deutsches Aktieninstitut warns of the implementation of any new non-financial reporting requirements ahead of a thorough the assessment of the Commission’s fitness check on public reporting for companies. Moreover, Deutsches Aktieninstitut criticizes a potential discrimination of traditional while ...

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