Five things to know about the taxonomy:
- The taxonomy can be viewed as a living dictionary providing definitions of sustainable economic activities – activities that contribute significantly to at least one of the six EU environmental objectives, that do not do significant social harm to other environmental objectives and that comply with minimum social safeguards.
- The basis for this classification system is formed by the EU environmental objectives – to mitigate climate change; to adapt to climate change; protect water and marine resources; control and prevent pollution; move to a circular economy; protect and restore biodiversity and ecosystems – and the underlying EU targets and strategies to achieve them. For instance, for climate mitigation, the EU objective is net zero emissions by 2050 (and the intermediate target of a 50-55% reduction in emissions by 2030).
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