Reporting on the EU green investment taxonomy
The purpose of the EU taxonomy is to help investors identify and compare environmentally sustainable investments through a common classification system for environmentally sustainable economic activities.
Norva24’s current observations on the EU’s taxonomy:
- The Group has assessed which economic activities in the Taxonomy Regulation that are applicable for the group. The activities included in the Taxonomy Regulation that seemingly would be relevant to Norva24 are found within sector 5 Water supply, sewerage, waste management and remediation, since these most closely resembles the economic activity of the group which is to perform maintenance services of wastewater systems.
- After careful analysis of the requirements in the taxonomy, the group have concluded that maintenance services of such systems fall outside the strict definition of the economic activities in sector 5 at the present time, thus Norva24 is not itself conducting any activities in the scope of the Taxonomy. The EU Taxonomy Regulation is still being developed and it is important to remember that the current legislation does not cover all sustainable activities in the market.
- Norva24 will continue to follow the development of the taxonomy closely and adapt reporting as needed.