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

Klaus Rainer Kirchhoff (), Sönke Niefünd () and Julian von Pressentin ()
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Klaus Rainer Kirchhoff: Kirchhoff Consult AG
Sönke Niefünd: Merck Finck a Quintet Private Bank

Chapter Chapter 3 in ESG: Sustainability as a Strategic Success Factor, 2024, pp 13-31 from Springer

Abstract: 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.

Keywords: EU Taxonomy Regulation; SFDR; Disclosure Regulation; Sustainability Integration; Environmental Goals; Taxonomy Capability; Taxonomy Compliance; Classification System; Financial Products; Principal Adverse Impact Indicators (PAIs); Non-financial Reporting; ESG Factors; Supervisory Board; EU Directives; Transparency; Greenwashing; Gas and Nuclear Energy; Political Influences; Standardization; Sustainability Regulation; Taxonomy (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-658-45831-7_3

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DOI: 10.1007/978-3-658-45831-7_3

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