Sustainability Report 2022-23 paperturn - Flipbook - Page 31
The EU Taxonomy
The EU Taxonomy has its roots in EU’s climate strategy that sets goals to create a climate-neutral EU by 2050.
The purpose of the EU Taxonomy is to create a shared classification system for economic activities that can be
considered sustainable from a climate or environmental point of view.
The taxonomy includes mandatory reporting requirements for companies that fall under the Non-Financial Reporting
Directive (NFRD), which means listed companies with an average of minimum 500 employees in the financial year.
The taxonomy defines six environmental goals that activities must meet to qualify as sustainable:
• Climate change mitigation
• Climate change adaptation
• Protection of water and marine resources
• Contribute to the transition to a circular economy
• Pollution prevention and control
• Protection and restoration of biodiversity
The regulation regarding the first two environmental objectives (prevention of climate change and adaption to
climate change) came into effect 1 January, 2022. The legislation covers activities for which there are published
technical screening criteria. Gabriel has assessed the company’s activities based on the industry codes under
which the company operates. Based on the assessment, it can be concluded that screening criteria exist for only
a small share of Gabriel’s activities (less than 5%), and therefore the company’s activities are not yet taxonomyeligible in the financial year 2022/23.
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