In 2021, there will be a legal requirement for all companies that are required to provide sustainability reporting under the Non-Financial Reporting Directive to report in accordance with the new EU Taxonomy. This means that such companies must report how sustainable their products and services are in relation to the guidelines in the EU Taxonomy. This training covers what the new law means, which industries and products are affected, what you must report and how to implement the report step by step.
The new EU Taxonomy is a tool to help investors and companies navigate the transition to a low-carbon, resilient and resource-efficient economy. Companies that already are required to provide sustainability reporting under the Non-Financial Reporting Directive will also be required to report according to the EU Taxonomy starting 2021.
In addition, it will be mandatory for financial products and services to report to the market how these perform according to the taxonomy. This is expected to spill over to all companies that are included or wish to be included in, for example, funds or investment companies.
During this training, with the help of tools and methods, you will learn how to report according to the new EU Taxonomy legal requirement, how the requirement affects your company or business, as well as how to relate to other similar legal requirements and frameworks within the EU.
THE TRAINING COVERS:
- The contents of the EU Taxonomy: basic principles, six basic environmental goals
- What requirements that EU Taxonomy will place on companies that must provide sustainability reporting under the Non-Financial Reporting Directive
- What industries, products and services that are affected by the reporting requirement
- What needs to be included in the report
- Tools and methods for reporting according to the EU Taxonomy
- How to develop an action plan to step by step implement reporting according to the Taxonomy
- The meaning of the new reporting requirements for financial products and the companies included in, for example, funds
- The link between the EU Taxonomy and related requirements and frameworks such as the EU Sustainable Finance Action Plan, the Disclosure Regulation and the Non-Financial Reporting Directive
SUITABLE FOR:Anyone who needs to understand the EU taxonomy and the new requirements this entails for corporate sustainability reporting, financial product communication and investor communication.
GOAL:The goal is that you as a participant should have the following after completing the training:
- A good understanding of the EU Taxonomy and its content
- The knowledge required to report in accordance to the new requirements in the EU Taxonomy
- Understanding the steps your organisation needs to take to implement the reporting
- Understanding of the continued development of the EU Taxonomy and how to stay up to date with developments
09.00 Welcome – introduction to the course and course participants
09.15 EU Taxonomy in context
- Purpose of the EU Taxonomy
- Relation to other similar legal requirements and frameworks such as The EU Sustainable Finance Action Plan, the Disclosure Regulation and the Non-Financial Reporting Directive
- Timeline for implentation
- Surveillance – What is being said about the Taxonomy?
09.45 The EU Taxonomy’s basic principles and concepts
- The structure and basic principles of the framework
- Definition of concepts
- Review of the framework's six basic environmental goals
11.00 Industries and economic activities – what is included?
- Review of the framework's classification of industries and economic activities
- Management of unclassified industries and economic activities
13.00 Reporting according to the EU Taxonomy – Step by step
- How is the report produced?
- What needs to be included in the report?
- What should be measure/calculated?
- What are the threshold values?
15.15 Action plan for implementationCourse participants develop their own action plan
16.00 Looking ahead - The continued development of the EU taxonomy
16.30 Summary of the day