Taxonomy-eligible business activities
A business activity is deemed to be taxonomy-eligible if it can be allocated to one of the economic activities described in the delegated acts of the EU Taxonomy – irrespective of whether or not it complies with the associated technical screening criteria. If this allocation is not possible, an activity is considered taxonomy-non-eligible.
Methodological principles of taxonomy eligibility
Based on an internal definition, business activities are only included in EU Taxonomy reporting if they generate external turnover or – in the case of activities related to research and development – they result in capital expenditure (CapEx) or operating expenditure (OpEx). In both cases, a materiality threshold of €1 million has been defined.
The business activities of entities that are not included in thyssenkrupp’s consolidated financial statements – either in full or in part – are exempted from EU Taxonomy reporting. This applies above all to joint ventures accounted for using the equity method and to investments.
Process for determining taxonomy-eligible business activities
In order to determine thyssenkrupp’s taxonomy-eligible business activities, the delegated acts issued in respect of the environmental objectives of the EU Taxonomy were analyzed by a central team of experts. Business activities that match the activities described there are allocated to the appropriate economic activity. The resulting preselection of potentially taxonomy-eligible activities are then assessed by the specialists of the respective segments and entities and reviewed for materiality. A final selection is then made. During this process, activities that were classified as taxonomy-eligible and included in previous years’ reports were again subjected to specialist review and validation.
In the reporting year, as part of the process for determining taxonomy-eligible business activities, the services relating to chloralkali production – including electrode recoating, electrolyzer upgrades and the supply of spare parts – that are provided by thyssenkrupp nucera in the Decarbon Technologies segment were assessed as taxonomy-eligible, allocated to categories CE 5.1 “Repair, refurbishment and remanufacturing” and CE 5.2 “Sale of spare parts” and included in reporting. In addition, Uhde’s FTR® (flakes-to-resin) process aimed at converting post-consumer PET flakes into new PET resin for return to the plastic cycle was classified as taxonomy-eligible, allocated to Category CE 2.7 “Sorting and material recovery of non-hazardous waste” and also included in reporting.
In the reporting year, the following thyssenkrupp business activities were considered taxonomy-eligible: