{"id":105328,"date":"2025-01-24T14:25:28","date_gmt":"2025-01-24T19:25:28","guid":{"rendered":"https:\/\/www.bloomberg.com\/professional\/insights\/sustainable-finance\/zooming-in-on-the-eu-taxonomys-value\/"},"modified":"2025-07-08T09:50:17","modified_gmt":"2025-07-08T13:50:17","slug":"zooming-in-on-the-eu-taxonomys-value","status":"publish","type":[3762],"link":"https:\/\/www.bloomberg.com\/professional\/insights\/sustainable-finance\/zooming-in-on-the-eu-taxonomys-value\/","title":{"rendered":"Zooming in on the EU Taxonomy\u2019s value"},"content":{"rendered":"<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-compact row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-6a077bb340aad'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-7\"\n    style=\"\"\n    >\n    <p><div\n    class=\"bbg-spacer bbg-spacer--lg\"\n    >\n<\/div><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p class=\"small\"><strong><span style=\"font-size: 14px; letter-spacing: 1px; color: #0062dd;\">ARTICLE<\/span><\/strong><\/p>\n\n<\/div>\n<div\n    class=\"bbg-spacer bbg-spacer--sm\"\n    >\n<\/div>    <h1 class=\"bbg-metadata bbg-metadata--title\">Zooming in on the EU Taxonomy\u2019s value<\/h1>\n<div\n    class=\"bbg-spacer\"\n        style=\"height: 50px !important\"\n    >\n<\/div>    <ul class=\"bbg-categories_list\">\n                    <li>\n                <a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/category\/data\/\" rel=\"category tag\">\n                    Data\n                <\/a>\n            <\/li>\n                    <li>\n                <a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/category\/markets\/\" rel=\"category tag\">\n                    Markets\n                <\/a>\n            <\/li>\n                    <li>\n                <a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/category\/sustainable-finance\/\" rel=\"category tag\">\n                    Sustainable Finance\n                <\/a>\n            <\/li>\n            <\/ul>\n<\/p>\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-5\"\n    style=\"\"\n    >\n    <div id=\"\" class=\"wpb_content_element bbg-single-image align-left\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"800\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/348164182-1.jpeg\" class=\"bbg-single-image__image attachment-full\" alt=\"A Meadow Of Weeds\" title=\"A Meadow Of Weeds\" \/>\n        \n            <\/figure>\n<\/div>\n\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-6a077bb34c166'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-6 bbg-column--m-width-6\"\n    style=\"\"\n    >\n    <p>    <p class=\"bbg-metadata bbg-metadata--date\">January 24, 2025<\/p>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><strong>Bloomberg Professional Services<\/strong><\/p>\n\n<\/div>\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2 bbg-column--valign-middle bbg-column--m-width-2 bbg-column--s-padding-right-2\"\n    style=\"\"\n    >\n    <div class=\"bb-tts\"\n\tdata-selector=\"main\"\n\tdata-label=\"Speak this page\"\n\tdata-custom-play=\"Play\"\n\tdata-custom-pause=\"Pause\"\n\tdata-custom-stop=\"Stop\"\n\tdata-overlay=\"false\"\n\tdata-invert=\"false\"\n\tdata-no-time=\"false\"\n\tdata-no-button-text=\"false\"\n\tdata-one-button=\"true\"\n\tdata-one-style=\"true\"\n\tdata-hide-stop=\"true\"\n\tdata-voice=\"Gordon\"\n\tdata-pitch=\"1\"\n\tdata-speed=\"1\"\n\tdata-align=\"flex-start\"\n>\n<\/div>\n\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-compact row-padding--bottom-compact bbg-row--full-bg-bleed\" data-anchor='row-6a077bb34eb1d'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><i><span style=\"font-weight: 400;\">This article was written by Christian Lelong, Sustainable Finance Analytics Product Manager, and Nadia Humphreys, Head of Sustainable Finance Data Solutions at Bloomberg <\/span><\/i><\/p>\n<p>As sustainable finance is facing some headwinds, the steady evolution of reporting under the European Union (EU) Taxonomy is both underappreciated and a reason for optimism. Data collected by Bloomberg, for just under 2,000 reporting companies, shows a significant increase in Taxonomy alignment, and reveals that large EU firms are also becoming more sustainable, as average alignment with the Taxonomy has increased year-on-year.<\/p>\n<p>Note, the EU Taxonomy is a measure of environmental sustainability, and on that basis the year-on-year increase in average Taxonomy alignment across EU-based firms that reported on both FY2022 and FY2023 (from 9.3% to 10.4% for revenue, from 13.0% to 13.8% for capex) shows that those firms have become more sustainable.<\/p>\n<p><span class=\"TextRun SCXW268132381 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW268132381 BCX0\">These developments should alert investors to the value Taxonomy data can bring to sustainable investment decision-making in Europe. Bloomberg typically publishes <\/span><span class=\"NormalTextRun SCXW268132381 BCX0\">T<\/span><span class=\"NormalTextRun SCXW268132381 BCX0\">axonomy data within 10 business days from the date of acquisition of the relevant company documents. For this article <\/span><span class=\"NormalTextRun SCXW268132381 BCX0\">we\u2019ve<\/span><span class=\"NormalTextRun SCXW268132381 BCX0\"> therefore been able to look at the full 2024 dataset for reporting year 2023.<\/span><\/span><span class=\"EOP SCXW268132381 BCX0\" data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n\n<\/div>\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none row-padding--bottom-none bbg-row--margin-top-compact bbg-row--margin-bottom-compact bbg-row--full-bg-bleed\" data-anchor='row-6a077bb3509f6'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <div\n    class=\"bbg-column\"\n    style=\"\"\n    >\n    <div class=\"bbg-interstitial\" aria-label=\"interstitial\" tabindex=\"0\">\n\t<style>\n\t\t.bbg-interstitial #card_1.bbg-card_hasCta{\n\t\t\tbackground: url(https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Interstitial_bg.png);\n\t\t\t\tbackground-repeat: no-repeat;\n\t\t\t\tbackground-position: center center;\n\t\t\t\tbackground-size: cover;\n\t\t\tpadding: 104px;\n\t\t\t\n\t\t\t\n\t\t}\n\t\t.bbg-interstitial #card_1.bbg-card_hasCta .bbg-card__content, .bbg-interstitial #card_1.bbg-card_hasCta .bbg-card__content p{\n\t\t\tcolor:white;\n\t\t}\n\t\t@media (max-width: 768px) {\n\t\t\t.bbg-interstitial #card_1.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 32px;\n\t\t\t}\n\t\t}\n\t\t@media (max-width: 480px) {\n\t\t\t.bbg-interstitial #card_1.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 18px;\n\t\t\t}\n\t\t}\n\t<\/style>\n\t<div class=\"wpb_content_element bbg-card  bbg-card-dark bbg-card_hasCta has_interstitial\" id=\"card_1\" data-card_type=\"no_image\">\n  \n  \n  <div class=\"bbg-card__innerwrapper\">\n    <div class=\"bbg-card__content\">\n      \n      \n                      <h3 class=\"bbg-card__title\">Empower your work with Enterprise Data & Technology monthly insights<\/h3>\n      \n              <div class=\"bbg-card__wysiwyg bb-wysiwyg\"><p>Sign up for the newsletter <\/p>\n<\/div>\n          <\/div>\n\n          \n<div\n  id=\"cta_8494722913218503883\"\n  class=\"wpb_content_element bbg-cta icon icon-arrow\">\n  <style>\n    \n    \n    \n  <\/style>\n  <div\n    class=\"bbg-cta-link link-holder\"\n    data-links-type=\"cta-links\">\n    <p class=\"bbg-cta-p right\">\n      <a\n        class=\"bbg-cta-link link interstitial_cta\"\n        href=\"https:\/\/www.bloomberg.com\/professional\/insights\/newsletter\/enterprise-data-and-tech\/\"\n        target=\"\"\n        rel=\"\"\n        data-section-name=\"\"\n                role=\"button\"\n        aria-label=\"Learn more\"\n        >\n                <\/a>\n    <\/p>\n  <\/div>\n<\/div>\n\n      <\/div>\n\n  <\/div>\n\n<\/div>\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none bbg-row--full-bg-bleed\" data-anchor='row-6a077bb3560eb'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2>EU Taxonomy alignment on the rise<\/h2>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><span class=\"TextRun SCXW230372481 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW230372481 BCX0\">Bloomberg<\/span> <span class=\"NormalTextRun CommentStart CommentHighlightPipeRest CommentHighlightRest SCXW230372481 BCX0\">data<\/span><span class=\"NormalTextRun CommentHighlightPipeRest SCXW230372481 BCX0\"> shows that the number of <\/span><span class=\"NormalTextRun CommentStart CommentHighlightPipeRest CommentHighlightRest SCXW230372481 BCX0\">companies<\/span><span class=\"NormalTextRun CommentHighlightPipeRest SCXW230372481 BCX0\"> reporting <\/span><span class=\"NormalTextRun SCXW230372481 BCX0\">T<\/span><span class=\"NormalTextRun SCXW230372481 BCX0\">axonomy<\/span><span class=\"NormalTextRun SCXW230372481 BCX0\"> alignment increased by 27% between FY2022 and FY2023 (Figure 1). <\/span><span class=\"NormalTextRun SCXW230372481 BCX0\">This increase was driven largely by EU financial firms that were required to report entity-level alignment for the first time.<\/span><span class=\"NormalTextRun SCXW230372481 BCX0\"> That said, the expansion of the <\/span><span class=\"NormalTextRun SCXW230372481 BCX0\">T<\/span><span class=\"NormalTextRun SCXW230372481 BCX0\">axonomy<\/span><span class=\"NormalTextRun SCXW230372481 BCX0\"> dataset was broad-based from a geographical perspective, including from <\/span><span class=\"NormalTextRun CommentStart CommentHighlightPipeRest CommentHighlightRest SCXW230372481 BCX0\">companies<\/span><span class=\"NormalTextRun CommentHighlightPipeRest SCXW230372481 BCX0\"> domiciled outside the EU (Figure 2).\u00a0<\/span><\/span><\/p>\n<p><span class=\"TextRun SCXW228256148 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW228256148 BCX0\">The size of the company universe matters because EU <\/span><span class=\"NormalTextRun SCXW228256148 BCX0\">Taxonomy<\/span><span class=\"NormalTextRun SCXW228256148 BCX0\"> disclosures make it possible to create<\/span><span class=\"NormalTextRun SCXW228256148 BCX0\"> diversified portfolios and <\/span><span class=\"NormalTextRun SCXW228256148 BCX0\">identify<\/span><span class=\"NormalTextRun SCXW228256148 BCX0\"> sustainability leaders. The threshold for companies with reporting requirements falls to 250 employees in 2026<\/span><span class=\"NormalTextRun SCXW228256148 BCX0\"> (<\/span><span class=\"NormalTextRun SCXW228256148 BCX0\">f<\/span><\/span><span class=\"TextRun SCXW228256148 BCX0\" lang=\"EN\" xml:lang=\"EN\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW228256148 BCX0\">or reporting year 2025)<\/span><\/span><span class=\"TextRun SCXW228256148 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW228256148 BCX0\">, so the <\/span><span class=\"NormalTextRun SCXW228256148 BCX0\">T<\/span><span class=\"NormalTextRun SCXW228256148 BCX0\">axonomy<\/span><span class=\"NormalTextRun SCXW228256148 BCX0\"> universe -and its value to market participants- is set for further growth. <\/span><\/span><\/p>\n\n<\/div>\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"948\" height=\"453\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-11.13.11%E2%80%AFAM.png\" class=\"bbg-single-image__image attachment-full\" alt=\"EU Taxonomy Alignment\" title=\"EU Taxonomy Alignment\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-11.13.11%E2%80%AFAM.png 948w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-11.13.11%E2%80%AFAM.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-11.13.11%E2%80%AFAM.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-11.13.11%E2%80%AFAM.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-11.13.11%E2%80%AFAM.png 192w\" sizes=\"auto, (max-width: 948px) 100vw, 948px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><span class=\"TextRun SCXW187367607 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW187367607 BCX0\">Another key insight from our data is that large EU firms are becoming more sustainable.\u00a0<\/span><span class=\"NormalTextRun SCXW187367607 BCX0\">As <\/span><span class=\"NormalTextRun SCXW187367607 BCX0\">Taxonomy<\/span><span class=\"NormalTextRun SCXW187367607 BCX0\"> requires the reporting of both revenue and capital expenditure that is aligned to the EU\u2019s green goals, it provides clarity on the green credentials of both the current performance and future investments of the company. The data shows that average revenue and capex alignment increased year-on-year in most sectors (Figures 3 and 4). The evolution <\/span><span class=\"NormalTextRun SCXW187367607 BCX0\">of\u00a0<\/span><\/span> <span class=\"TextRun SCXW187367607 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW187367607 BCX0\">capital<\/span><span class=\"NormalTextRun SCXW187367607 BCX0\"> expenditure is particularly significant, since<\/span><span class=\"NormalTextRun SCXW187367607 BCX0\"> it suggests that the trend is accelerating as those investments bear fruit. This green shift is most <\/span><span class=\"NormalTextRun SCXW187367607 BCX0\">evident<\/span><span class=\"NormalTextRun SCXW187367607 BCX0\"> in the Utilities sector, with an average capex <\/span><span class=\"NormalTextRun ContextualSpellingAndGrammarErrorV2Themed SCXW187367607 BCX0\">alignment<\/span><span class=\"NormalTextRun SCXW187367607 BCX0\"> over 60%.<\/span><\/span><span class=\"EOP SCXW187367607 BCX0\" data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span class=\"TextRun SCXW45586463 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW45586463 BCX0\">The value of the EU Taxonomy will increase as more companies are set to report (under the growing scope of CSRD) and <\/span><span class=\"NormalTextRun ContextualSpellingAndGrammarErrorV2Themed SCXW45586463 BCX0\">early stage<\/span><span class=\"NormalTextRun SCXW45586463 BCX0\"> usability problems are resolved. The low year-on-year variance of company alignment is indicative of the quality of reported <\/span><span class=\"NormalTextRun SCXW45586463 BCX0\">data and<\/span><span class=\"NormalTextRun SCXW45586463 BCX0\"> enhances the value to portfolio managers of the EU Taxonomy as an investment screening tool.\u00a0<\/span><\/span><span class=\"EOP SCXW45586463 BCX0\" data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n\n<\/div>\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1386\" height=\"659\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-11.23.54%E2%80%AFAM.png\" class=\"bbg-single-image__image attachment-full\" alt=\"Average revenue and capex\" title=\"Average revenue and capex\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-11.23.54%E2%80%AFAM.png 1386w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-11.23.54%E2%80%AFAM.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-11.23.54%E2%80%AFAM.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-11.23.54%E2%80%AFAM.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-11.23.54%E2%80%AFAM.png 192w\" sizes=\"auto, (max-width: 1386px) 100vw, 1386px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><span class=\"TextRun SCXW52646221 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW52646221 BCX0\">Bloomberg\u2019s Taxonomy dataset was expanded in January 2025 to include both reported and estimated alignment for the four remaining environmental <\/span><span class=\"NormalTextRun SCXW52646221 BCX0\">objectives<\/span><span class=\"NormalTextRun SCXW52646221 BCX0\"> (water, circular economy, pollution, and biodiversity<\/span><span class=\"NormalTextRun SCXW52646221 BCX0\">). The Bloomberg <\/span><span class=\"NormalTextRun SCXW52646221 BCX0\">methodology<\/span><span class=\"NormalTextRun SCXW52646221 BCX0\"> for estimation relies exclusively on company-reported data to implement the technical screening criteria of the regulation, and the list of activities covered reflects the availability of company disclosures for a given <\/span><span class=\"NormalTextRun SCXW52646221 BCX0\">objective<\/span><span class=\"NormalTextRun SCXW52646221 BCX0\">. Of note, we consider some <\/span><span class=\"NormalTextRun SCXW52646221 BCX0\">ac<\/span><span class=\"NormalTextRun SCXW52646221 BCX0\">tivities <\/span><span class=\"NormalTextRun SCXW52646221 BCX0\">difficult to implement unless companies provide more transparency in their sustainability reporting.<\/span><\/span><span class=\"EOP TrackedChange SCXW52646221 BCX0\" data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n\n<\/div>\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"987\" height=\"680\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-11.20.19%E2%80%AFAM.png\" class=\"bbg-single-image__image attachment-full\" alt=\"Bloomberg Coverage of Estimated Alignment to the Four Environmental Objectives\" title=\"Bloomberg Coverage of Estimated Alignment to the Four Environmental Objectives\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-11.20.19%E2%80%AFAM.png 987w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-11.20.19%E2%80%AFAM.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-11.20.19%E2%80%AFAM.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-11.20.19%E2%80%AFAM.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-11.20.19%E2%80%AFAM.png 157w\" sizes=\"auto, (max-width: 987px) 100vw, 987px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><span class=\"TextRun SCXW74147791 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW74147791 BCX0\">Companies tend to <\/span><span class=\"NormalTextRun SCXW74147791 BCX0\">disclose<\/span><span class=\"NormalTextRun SCXW74147791 BCX0\"> more information on carbon emissions than on deforestation or water pollution, and this is reflected in low estimates for environmental <\/span><span class=\"NormalTextRun SCXW74147791 BCX0\">objectives<\/span><span class=\"NormalTextRun SCXW74147791 BCX0\"> relative to those for climate <\/span><span class=\"NormalTextRun SCXW74147791 BCX0\">objectives<\/span><span class=\"NormalTextRun SCXW74147791 BCX0\">. The new models estimate Substantial Contribution using six input fields on average per model. The average disclosure of these input fields is 58%, and a single missing value can result in a failed test. As a result, market participants will see very conservative estimates from Bloomberg for a su<\/span><span class=\"NormalTextRun SCXW74147791 BCX0\">bset of activities eligible to the new <\/span><span class=\"NormalTextRun SCXW74147791 BCX0\">objectives<\/span> <span class=\"NormalTextRun SCXW74147791 BCX0\">(<\/span><span class=\"NormalTextRun SCXW74147791 BCX0\">not<\/span><span class=\"NormalTextRun SCXW74147791 BCX0\">e<\/span><span class=\"NormalTextRun SCXW74147791 BCX0\">, <\/span><span class=\"NormalTextRun SCXW74147791 BCX0\">o<\/span><\/span><span class=\"TextRun SCXW74147791 BCX0\" lang=\"EN\" xml:lang=\"EN\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW74147791 BCX0\">ver 3,400 companies are tested for estimated alignment to the 4 environmental <\/span><span class=\"NormalTextRun SCXW74147791 BCX0\">objectives<\/span><span class=\"NormalTextRun SCXW74147791 BCX0\">) <\/span><\/span><span class=\"TextRun SCXW74147791 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW74147791 BCX0\">until the standard of sustainability reporting improves in key <\/span><span class=\"NormalTextRun SCXW74147791 BCX0\">jurisdictions<\/span><span class=\"NormalTextRun SCXW74147791 BCX0\"> around the world.<\/span><\/span><span class=\"EOP SCXW74147791 BCX0\" data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2>What\u2019s next for taxonomies globally?<\/h2>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><span data-contrast=\"auto\">The development of taxonomies in other countries and regions also signals the growing value of this type of data. Looking just outside the European Union, three non-EU countries have adopted the EU Taxonomy because they are members of the European Economy Area (EEA). A further 20 jurisdictions have published Taxonomy frameworks (some, such as Mexico, Brazil and Canada, have been inspired by the EU Taxonomy), a figure that doubles if we consider countries that are presently developing a Taxonomy. Mandatory taxonomies are the minority, with the recently<\/span> <span data-contrast=\"auto\">&#8211;<\/span><span data-contrast=\"auto\">announced Brazilian Taxonomy, which will become mandatory for certain entities in 2026, being the only Taxonomy to require disclosures after the EU\u2019s. <\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The International Platform on Sustainable Finance (IPSF)<\/span><span data-contrast=\"auto\">,<\/span><span data-contrast=\"auto\"> has focused its work on promoting interoperability between jurisdictional approaches to Taxonomy development, through initiatives such as the Multijurisdictional-Common Ground Taxonomy. Importantly, the IPSF can also play a critical role in facilitating dialogue between policymakers around equivalence and recognition frameworks for global taxonomies, to help streamline obligations for global market players having to comply with multiple regimes. <\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><em><span class=\"TrackedChange SCXW76269971 BCX0\"><span class=\"TextRun SCXW76269971 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun TrackChangeDeleteHighlight SCXW76269971 BCX0\">Interested in Bloomberg\u2019s ESG data offering? See our solutions page <\/span><\/span><\/span><a class=\"Hyperlink SCXW76269971 BCX0\" href=\"https:\/\/www.bloomberg.com\/professional\/products\/data\/enterprise-catalog\/esg\" target=\"_blank\" rel=\"noreferrer noopener\"><span class=\"FieldRange SCXW76269971 BCX0\"><span class=\"TextRun Underlined SCXW76269971 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun CommentStart CommentHighlightPipeRest CommentHighlightRest SCXW76269971 BCX0\" data-ccp-charstyle=\"Hyperlink\">here.<\/span><\/span><\/span><\/a><span class=\"EOP CommentHighlightPipeRest SCXW76269971 BCX0\" data-ccp-props=\"{}\">\u00a0<\/span><\/em><\/p>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h6><em>The information included in these materials and all related information (whether oral or written) which may be provided in connection with these materials is for illustrative purposes only. Nothing in these materials or the services offered by Bloomberg is designed to be, or should be treated as, advice. If you are in any doubt as to your obligations or should you wish to seek advice, you should consult your own professional advisers.<\/em><\/h6>\n\n<\/div>\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <style>section[data-anchor=row-6a077bb36084f]::before {\n\t\t\t\tbackground-color: #f4f4f9;\n\t\t\t}<\/style>\n    <section class=\"bbg-row bg--custom-color  bg--f4f4f9 text--black bbg-row--full-bg-bleed\" data-anchor='row-6a077bb36084f'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h3>Related Content<\/h3>\n\n<\/div>\n\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-4 bbg-column--halign-right\"\n    style=\"\"\n    >\n    \n<div\n  id=\"cta_1541211036067008517\"\n  class=\"wpb_content_element bbg-cta icon 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Bloomberg data shows a significant increase in Taxonomy alignment and reveals that large EU firms are also becoming more sustainable. <\/p>\n","protected":false},"author":1935,"featured_media":105330,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"template-article.php","format":"standard","meta":{"_yoast_wpseo_primary_category":"524","footnotes":""},"categories":[435,453,524],"tags":[3819,3698,3662,3701,3679],"series":[],"class_list":["post-105328","post","type-post","status-publish","format-standard","hentry","category-data","category-markets","category-sustainable-finance","tag-emea","tag-enterprise-tech-and-data","tag-esg","tag-esg-research","tag-sustainability","type-article"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.11 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Zooming in on the EU Taxonomy\u2019s value | Insights | Bloomberg Professional Services<\/title>\n<meta name=\"description\" content=\"Despite sustainable finance headwinds, EU Taxonomy reporting growth is encouraging. 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