Collecting EU Taxonomy Data

Last updated on 2025-05-08

Overview

The EU Taxonomy is a classification system established by the European Union to define which economic activities can be considered environmentally sustainable.

In the EU Taxonomy functional area, users can create business activities, such as using solar energy panels, and assess if these business activities are eligible for the EU Taxonomy.

Prerequisites for Collecting EU Taxonomy Data

To be able to start with the data collection for the EU Taxonomy report, you first need to complete the setup of the ESRS questionnaire builder (needs to be done by an ESG Administrator, see also Configuring the ESRS Questionnaire). Otherwise, you cannot access your report in the Reports and Activities workspace.

Creating a Business Activity

To create a new business activity:

  1. Open the Reports and Activities workspace and click the reporting entity for which you want to create business activities.
    The overview of already created business activities is displayed as follows, for example:

    Display of status of assessment for taxonomy eligibility and eligibility goals for business activities
  2. In the top right corner, click + Business activity.
  3. Specify the data for your business activity and perform the eligibility assessment (see following subheadline).
Specifying Business Activity and Performing Eligibility Assessment

Specify the data for your business activity and perform the eligibility assessment as follows:

Option

Description

Business activity name

Name of your business activity

EU Taxonomy sector

EU Taxonomy sector that corresponds to your business activity, e.g.:

The EU Taxonomy sector Energy corresponds to the business activity named Geothermal District Heating Systems.

EU Taxonomy activity

EU Taxonomy activity that falls under the chosen EU Taxonomy sector and that best describes your business activity, e.g.:

E.g. if you are generating energy from a photovoltaic plant, the suitable activity would be Electricity generation using solar photovoltaic technology.

NACE code

NACE code(s) that correspond(s) to your business activity. The selection of NACE codes has no effect on the eligibility, but it helps you to easier align your business activity with the EU Taxonomy.

Option

Description

Do you have financial figures (turnover, CapEx, OpEx) for the selected business activity in the current reporting period?

Indicate whether you can deliver financial figures for your selected business activity.

Depending on the EU Taxonomy activity chosen above, the environmental goals are automatically displayed. For each of the environmental goals listed below, indicate whether your business activity can be associated with the EU Taxonomy activity or NACE code that is mentioned in the description in the blue information box:

  1. Choose Yes or No for each environmental goal.
  2. Provide an explanation as to why you chose Yes or No.

Please note:

  • The descriptions are derived directly from the taxonomy activities descriptions in the delegated regulations.
  • The following applies to the descriptions:
    • In case there is more than one environmental goal applicable, the descriptions might be the same for two or more goals. In that case, your answer for one of the goals is automatically applied to the other goals with the same descriptions. 
    • If the descriptions are different for the environment goals, you have to answer for each goal individually.
  • On the right-hand side, you can find the following:
    • The status of the assessment for every individual goal
    • An E or T indicating the contribution type, i.e. the business activity is classified as a transitional or enabling business activity; please note that this does not apply for all business activities.
    • A three-dot menu with the option to display information on the Substantial Contribution Criteria (SCC) that are relevant for the environmental goal. The SCC information can help you determine whether your business activity is eligible for the EU Taxonomy regarding a specific environmental goal.
An example for a business activity is displayed. Example for business activity
Statuses for Eligibility Assessment

After having configured your business activity, the ESG Reporting solution automatically assesses the taxonomy eligibility. The following statuses are possible:

Status

Description

Eligible, i.e.:

  • One or more environmental goals have been confirmed with Yes.
  • Question related to financial figures was answered positively.

  • Not eligible, i.e. No was chosen for all environmental goals or the question related to financial figures was answered negatively.

  • In progress, i.e. one or more environmental goals have not been confirmed with Yes or No or the question regarding the financial figures has not been answered yet.