Taxonomy – A Burden or Driver for the Business
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Academic Publishing UNWE (AP-UNWE)
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The objective of this paper is to examine the impact of the Taxonomy (Regulation 2020/852) on business in the non-financial sector. It is a consecutive paper, written by the author on the topic of sustainability – the purpose of the company, the global value chains and the transition of the business model on the road to a climate neutral Europe. The regulators and the politicians see the Taxonomy mainly from the perspective of sustainable financing. Researchers and consultants analyze the new norms for sustainability as a driver for new financial products and an enabler for a better-functioning European Capital Market. The Taxonomy impacts the economic entities in the non-financial sector and shapes their priorities about sustainability. The implementation of the Taxonomy by the non-financial business is in the scope of the paper. Although the implementation period is short, it is important to examine how business reacts to the new norms of sustainability.
Keywords
Taxonomy, Sustainability, Climate change, Climate adaptation, Sustainable activities, G38 - Government Policy and Regulation, K22 - Business and Securities Law, M10 - General