Disclosures in accordance with Article 8 of Regulation (EU) 2020/852 (Taxonomy Regulation)

Disclosures in accordance with Article 8 of Regulation (EU) 2020/852 (Taxonomy Regulation)

Regulation (EU) 2020/852 – subsequently referred to as the EU Taxonomy – is a central instrument of the European Green Deal and the Action Plan on Financing Sustainable Growth. It serves to implement the EU’s environmental objectives by 2050. The goal of the EU Taxonomy is to define standardized screening criteria as a way of creating transparency about which economic activities can be classified as environmentally sustainable. This is aimed at creating a common understanding of sustainability assessment among capital market stakeholders to foster the targeted routing of funds toward those areas that support the transition to a more sustainable economic system.

In this section, we use the following abbreviations for the six environmental objectives:

• Climate change mitigation: CCM

• Climate change adaptation: CCA

• Pollution prevention and control: PPC

• Sustainable use and protection of water and marine resources: WTR

• Transition to a circular economy: CE

• Protection and restoration of biodiversity and ecosystems: BIO

On the basis of Article 8 (1) of the EU Taxonomy and the delegated acts adopted in this connection, thyssenkrupp reports the type and scope of the group’s environmentally sustainable economic activities in the disclosures in the sustainability report. For the first time, we are applying the full scope – both taxonomy eligibility and taxonomy alignment – to reporting all environmental objectives.

Due to unclarified legal terms, uncertainty still exists regarding the interpretation of the EU Taxonomy and delegated acts adopted.