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International businesses with operations in the EU: Are you taxonomy-ready?

By Tim Baines, Musonda Kapotwe & Peter Pears on October 23, 2023
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What is a taxonomy anyway?

The EU’s “Taxonomy” is a classification framework that determines whether an economic activity is environmentally sustainable.  

Under EU legislation, “large” EU companies will soon need to report on their taxonomy “alignment” as part of their mandatory sustainability disclosures.  This means, at risk of oversimplifying, reporting on the extent to which the activities of their business corresponds to what the EU views as “environmentally sustainable”.

This catches a lot of large subsidiaries of US and other international businesses.  It is likely to be a complicated exercise for many businesses, and one that they have not had to undergo before.

Continue reading at Mayerbrown.com.

Photo of Tim Baines Tim Baines

Tim Baines is a partner in the London environmental and planning team of Mayer Brown. Tim has a particular interest and background in advising companies and financial institutions in the real estate, energy and sustainability sectors. He has considerable knowledge of UK planning…

Tim Baines is a partner in the London environmental and planning team of Mayer Brown. Tim has a particular interest and background in advising companies and financial institutions in the real estate, energy and sustainability sectors. He has considerable knowledge of UK planning and environmental regimes, renewables incentives regimes, and emissions and climate-related matters.

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Photo of Musonda Kapotwe Musonda Kapotwe

Musonda Kapotwe has extensive transactional experience advising on the impact of UK financial services regulation on banking, capital markets and derivative transactions.

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Photo of Peter Pears Peter Pears

Peter Pears is a partner in the Banking & Finance practice of the London office. He acts for issuers and underwriters on a range of domestic and international capital markets products including Eurobond, medium term note, commercial paper, regulatory capital, corporate hybrid and…

Peter Pears is a partner in the Banking & Finance practice of the London office. He acts for issuers and underwriters on a range of domestic and international capital markets products including Eurobond, medium term note, commercial paper, regulatory capital, corporate hybrid and liability management transactions. Peter’s clients include financial institutions, major corporations, sovereigns, municipalities and supranationals across Europe, the United States, Africa and Asia. Peter has considerable experience in sustainable debt and ESG principles and regularly advises on green, social and sustainable bonds, sustainability-linked bonds and ESG regulatory matters. In addition to his debt capital markets practice, Peter has experience advising on a variety of infrastructure finance transactions, including project bonds, private placements and whole business securitizations.

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  • Posted in:
    Environmental and Climate
  • Blog:
    Eye on ESG
  • Organization:
    Mayer Brown
  • Article: View Original Source

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