Ohana Public Affairs webinar: EU Taxonomy and interlinkages to the Corporate Sustainability Reporting Directive – what is it and how is it relevant for the textile industry
Already in 2020, the EU institutions adopted the EU Taxonomy for sustainable investments. The EU Taxonomy is a classification system, establishing a list of environmentally sustainable economic activities. It could play an important role helping the EU scale up sustainable investment and implement the European green deal. The EU Taxonomy would provide companies, investors and policymakers with appropriate definitions for which economic activities can be considered environmentally sustainable. In this context, the Taxonomy establishes reporting obligations for companies that fall under the scope of the Non-Financial Reporting Directive and the newly adopted Corporate Sustainability Reporting Directive. The criteria for the textile and apparel industry are currently under development and will be the baseline brands in the sector should report against in the future.
What will you learn?
The webinar will outline which companies are in scope for future EU Taxonomy reporting, outline key concepts introduced under the taxonomy such as ‘significant contribution’ and ‘ do no significant harm’ criteria, give guidance on what the draft criteria for textile and apparel are stipulating and suggest actions forward on how to prepare for Taxonomy reporting.