The European Commission announced the adoption of a series of measures aimed at simplifying the application of the EU Taxonomy, and reducing the administrative burden on companies, including dramatically reducing the number of datapoints in the taxonomy’s reporting templates, and exempting companies from assessing taxonomy alignment for non-material activities.
The simplification measures come amidst a major push by the EU Commission to reduce administrative and reporting burdens on companies, with the Taxonomy among the first in a series of sustainability reporting regulations to be targeted in the Commission’s Omnibus I package released in February.
