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Legal | Zoom on the European Green Taxonomy and how it impacts your supply chain


The European Green Taxonomy and how it impacts your supply chains


The first part of the European Green Taxonomy "EU taxonomy for sustainable activities" is in application since 2022.


🧐 𝗪𝗵𝗮𝘁 𝗶𝘀 𝗶𝘁? The Green Taxonomy promotes the transition to "net zero" by standardizing the way companies communicate on their environmental impact, especially to their investors. The idea: to prevent greenwashing and orientate investments towards compliant and sustainable companies.


📅 𝗪𝗵𝗲𝗻? 2 qualitative and quantitative criteria are in application since January 2022: efforts to mitigate climate change and adaptability to these issues. Four others will follow in January 2023: sustainable use of water, transition to a circular economy, pollution control and prevention, and biodiversity protection.


🌿 𝗚𝗿𝗲𝗲𝗻𝘄𝗮𝘀𝗵𝗶𝗻𝗴 𝘃𝘀. 𝘀𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗹𝗲 𝘀𝘂𝗽𝗽𝗹𝘆 𝗰𝗵𝗮𝗶𝗻 - The supply chain is a key factor of impact: art.8 of the law commits to more traceability and more accountability of actors in relation to their CSR (Corporate Social Responsibility) statements. End-to-end traceability is one of the main keys to building a responsible supply system.


🎯 𝗧𝗵𝗲 𝗴𝗼𝗼𝗱 𝗻𝗲𝘄𝘀? New technologies exist today that facilitate the implementation of end-to-end traceability/visibility to achieve CSR objectives, by allowing the actors of a supply chain to exchange data between them in a simple, secure and transparent way, to link this information together for each product, each batch, and to restore it as required by regulations and authorities to demonstrate compliance


Contact us to know more! [Source: https://ec.europa.eu/info/business-economy-euro/banking-and-finance/sustainable-finance/eu-taxonomy-sustainable-activities_en]