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The EU Taxonomy Regulation and Its Implications for Companies

In: The Palgrave Handbook of ESG and Corporate Governance

Author

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  • Rui Oliveira Neves

    (Universidade Católica Portuguesa, Law School
    Universidade de Lisboa, Law School)

Abstract

A fundamental step to progress with EU’s climate and energy targets has been achieved with Regulation (EU) 2020/852 of the European Parliament and of the Council of 18 June 2020 on the establishment of a framework to facilitate sustainable investment (the “Taxonomy Regulation”). The Taxonomy Regulation envisages to create a level playing field for companies, investors and policymakers to access, provide and monitor the cornerstone of the 2050 carbon-neutrality path: sustainable financing. This is very likely the biggest challenge to deliver on EU’s environmental ambitions and the Taxonomy may support an important acceleration towards green financing. This chapter contributes to the legal debate around the strengths and limitations of the Taxonomy Regulation and the effects that the new rules on environmentally sustainable economic activities and their financing will have for companies across the European Union, in particular as refers to governance, financial and market implications. The purpose of this article is to discuss the Taxonomy Regulation’s implications for companies as part of the ESG frameworks that are required to be developed to support a new economic era driven by sustainability targets.

Suggested Citation

  • Rui Oliveira Neves, 2022. "The EU Taxonomy Regulation and Its Implications for Companies," Springer Books, in: Paulo Câmara & Filipe Morais (ed.), The Palgrave Handbook of ESG and Corporate Governance, chapter 0, pages 249-265, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-99468-6_13
    DOI: 10.1007/978-3-030-99468-6_13
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