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The European Union’s Green Deal—Trigger of the ESG Boom

In: ESG: Sustainability as a Strategic Success Factor

Author

Listed:
  • Klaus Rainer Kirchhoff

    (Kirchhoff Consult AG)

  • Sönke Niefünd

    (Merck Finck a Quintet Private Bank)

  • Julian von Pressentin

Abstract

This chapter analyzes the role of the EU Taxonomy Regulation (2020/852) and the SFDR Disclosure Regulation in the integration and definition of sustainability in the business and financial context. It delves into the challenges and impacts of these EU directives on sustainability goals, environmental standards, and transparency in financial products. Furthermore, the text discusses the six environmental objectives of the taxonomy, the distinction between taxonomy eligibility and compliance, and the unintended effects of the SFDR regulation’s classification system. Controversies surrounding the inclusion of gas and nuclear energy in the taxonomy and the role of supervisory bodies in monitoring sustainability reporting are also highlighted. It is emphasized that, despite political influences and controversies, both regulations represent essential tools for the standardization and regulation of sustainability.

Suggested Citation

  • Klaus Rainer Kirchhoff & Sönke Niefünd & Julian von Pressentin, 2024. "The European Union’s Green Deal—Trigger of the ESG Boom," Springer Books, in: ESG: Sustainability as a Strategic Success Factor, chapter 0, pages 13-31, Springer.
    • Handle: RePEc:spr:sprchp:978-3-658-45831-7_3
    DOI: 10.1007/978-3-658-45831-7_3
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