Policymakers in Europe, the United States, and Asia have embraced policies aimed at providing more transparency in environmental performance.
In this context, it will be crucial for anyone doing business to adapt their strategies to the new directives, outlining goals for future sustainability, and turning them into an opportunity to differentiate and improve the appeal to clients, stakeholders, and investors.
The Sustainability reporting, introduced for European companies with the EU Directive 95/2014, represents to date in the international reporting landscape, the starting point of a continuously evolving path that aims to meet numerous challenges, first and foremost the integrated management of non-financial information, structured in a framework that can be as comprehensive as possible, to be placed alongside classic financial reporting.
The scope of European Union legislation, in the field of accelerating and harmonizing rules on sustainable finance, has expanded considerably in the past few years and is gradually broadening.
The state of the art of European legislation aimed at defining the legislative framework for sustainable investment is certainly the most advanced and defined in the global landscape at present.
In the new framework defined by the European Taxonomy, with regard to the rules and objectives for classifying business activities that are considered environmentally, socially, and governance sustainable, a prominent point much discussed at the moment, especially in the financial world, is covered by Article 8 of the Taxonomy.