Legal & Regulatory News

European Commission consults on draft delegated regulation on mandatory disclosures under Taxonomy Regulation

07 May 2021

On 7 May 2021, the European Commission published for consultation a draft delegated act (the Delegated Act) supplementing the Taxonomy Regulation ((EU) 2020/852) specifying the content, methodology, and presentation of the information to be disclosed by large financial and non-financial undertakings subject to the non-financial reporting directive (NFRD) concerning their environmentally sustainable economic activities.

The Delegated Act specifies the disclosure obligations under Article 8 of the Taxonomy Regulation, and the rules set out will allow companies to translate the technical screening criteria of the Climate Delegated Act, and the future Environmental Delegated Act, into the KPIs which will be publicly disclosed.

The European Commission has also published a number of frequently asked questions (FAQs) on the Delegated Act.

The consultation closes on 2 June 2021 and the Commission is expected to adopt the proposal in Q2 2021.

Click here to access the EU Taxonomy article 8 Delegated Act.

Click here to access the FAQs.