SUSTAINABILITY AT MAIRE TECNIMONT
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THE EUROPEAN TAXONOMY
2021 SUSTAINABILITY REPORT
29
APPENDIX
8 Eligible activities are defined as the activities included in annexes 1 and 2 of Delegated Act 2139/2021. 9 The DNSH principle, established by Regulation 2020/852, stipulates that, in order for an activity to be taxonomy aligned, it must not cause damage to any of the other five objectives (in addition to significantly contribute to one of the defined objectives).
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The publication of the information on the Taxonomy, in particular on how and to what extent the company’s activities are associated with environmentally sustainable economic activities, became an obligation from January 2022 for companies subject to EU Directive 2014/95 on non-financial reporting, in which also Maire Tecnimont Group falls within the scope. It should be noted that, currently, it
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complies with the technical screening criteria established by the EU Commission, which, using a scientific framework, specify the minimum conditions that must be met in order for an economic activity to be qualified as contributing substantially to one of the environmental objectives. For each activity, the legislation identifies specific technical screening criteria for each environmental objective.
In this first year of reporting, art. 8 of the Regulation stipulates that non-financial enterprises communicate: (i) the proportion of their turnover derived from products or services associated with economic activities that qualify as environmentally sustainable (taxonomy eligible activities[1]); (ii) the proportion of their capital expenditure (CapEx) and the proportion of their operating expenditure (OpEx) related to assets or processes associated with economic activities that qualify as environmentally sustainable. No assessment regarding the principle of Do Not Significant Harm (DNSH)[2], in compliance with the minimum guarantees and the technical screening criteria indicated in the Technical Annexes of the Delegated Acts, is therefore required. This represents an intermediate step, with respect to verifying the alignment with the Taxonomy criteria, on which the entire regulatory framework was built and raises much uncertainty and debate about the practical interpretation of the concept of eligibility for different sectors and KPIs calculation. This is a moment of transition towards the subsequent assessment of the actual alignment to
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contributes substantially to one or more of the environmental objectives set out in Article 9 of the same Regulation: climate change mitigation; climate change adaptation; the sustainable use and protection of water and marine resources; the transition to a circular economy; pollution prevention and
is carried out in compliance with the minimum guarantees for the protection of human rights, including fundamental rights at work, provided for by art. 18 of the Regulation, in recognition of the importance of international rights and standards (including the OECD, the UN, and the International Labour Organization);
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According to art.3 of the Regulation, an economic activity is considered environmentally sustainable, and therefore falls within the scope of the Regulation if:
does not significantly harm (DNSH) any of the abovementioned environmental objectives;
is the delegated acts relating to climate change mitigation and adaptation objectives that have been regulated and made public and, therefore, the eligibility basis refers exclusively to these objectives. The integration of the remaining four objectives will be published in the upcoming years.
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The way we operate and live today is strongly impacted by the climate crisis, whose negative consequences are concrete and tangible. However, this crisis is also a great opportunity for change. Accordingly, the 2030 and 2050 decarbonization goal set by the European Union through the Green Deal are the fundamental driving force for this opportunity to be seized by European organizations. Within this context, the European institutions have issued the Regulation (EU) 2020/852 - EU Taxonomy Regulation (referred to hereinafter also as “Regulation”), whose purpose is to define a Taxonomy, as a classification system that establishes the criteria for determining whether an economic activity qualifies as environmentally sustainable, with the aim of providing public institutions, companies and investors with criteria and methods for identifying, within regulated sectors, such activities.
control; and the protection and restoration of biodiversity and ecosystems;
INTRODUCTION
1.3 TAXONOMY: ELIGIBLE ACTIVITY ANALYSIS
