Without a doubt, the implementation of the EU Taxonomy Regulation is a priority topic for experts in reporting in European companies. As the new regulations will come into force gradually from 2022, new information on the classification of certain economic activities will be relevant for the first time in the current year. As a first step, companies will then be required to report on the two most important objectives of "preventing climate change and adapting to climate change".
The required classification of activities, which is equivalent to a company-wide inventory of economic activities, is based on the criteria of the so-called NACE codes, which are issued by the European Union for the statistical systematization of economic activities.
With regard to the usability of the actual information to be reported for the current fiscal year in controlling, many companies have already been active in the previous year 2021 as part of the fiscal year planning 2022-2024. For comparison and controlling purposes, corresponding values for the EU Taxonomy information were therefore collected across the Group. Integrated cloud-based platform solutions with flexibly adaptable web-based data collection applications that reach all reporting units in globally operating corporate groups are certainly a promising option here.