Strict Sustainability Goals
In this regard, the European Parliament and the European Council support increased financing of environment and climate-related expenditures by the private sector, in particular through the creation of incentives and methods to encourage companies to measure the environment-related costs of their business as well as the benefits resulting from the use of environmental services.
The Taxonomy Regulation (EU 2020/852), established for this purpose, came into force on 7 December 2020 and is being applied as of 1 January 2022 to ensure climate protection and adaptation. From the start of 2023, it will also be applied to other environmental objectives, such as the sustainable use and protection of water and marine resources, the transition to a circular economy, pollution prevention and control, and the protection and restoration of biodiversity and ecosystems.
With the taxonomy, the European Union has introduced a classification scheme to define in a binding way which economic activities are classified as environmentally sustainable. The activities identified are also intended to be strengthened with targeted investments and climate-related data from market participants made transparent to third parties.
Climate protection and sustainability are becoming decisive criteria in corporate reports and statements, as well as in the financing of projects or the entire company. Stakeholders from customers to regulators are demanding it, and we cannot continue to minimize the importance of sustainability throughout the Data Center and IT infrastructure ecosystem.
From 2022, the first reporting year, at least three parameters must be reported in the non-financial reporting for the respective economic activity (Art. 8 Para. 2 of the EU Taxonomy Regulation):
EU Taxonomy Evaluation Criteria
Economic activities are evaluated against the following environmental objectives:
Adaptation to climate change
Sustainable use and protection of water and marine resources
Transition to a circular economy
Pollution prevention and control
Protection and restoration of biodiversity and ecosystems
For an economic activity to be classified as environmentally sustainable, the following criteria must be met. These have been defined by the EU for selected economic activities in this classification scheme.
Substantially contribute: Does the economic activity contribute significantly to the achievement of any of the six environmental goals?
Do no significant harm: Does this economic activity not affect any of the six environmental goals?
Comply with minimum safeguards: Does the economic activity comply with certain internationally recognized minimum standards for human and labor rights?