The conceptual understanding of taxonomic criteria and objectives for environmentally sustainable economic activities
The conceptual understanding of taxonomic criteria and objectives for environmentally sustainable economic activities

Author(s): Robert Kenyon MacGregor
Subject(s): Energy and Environmental Studies, Economic policy, Environmental and Energy policy, Socio-Economic Research, EU-Legislation, Sociology of Law
Published by: ADJURIS – International Academic Publisher
Keywords: EU; environmental sustainability; greenwashing; Taxonomy Regulation;
Summary/Abstract: The UN 2030 Agenda and the Political guidelines with six priorities of the current EU Commission, including the European Green Deal, vigorously and systematically advance sustainability, particularly its environmental pillar. The EU strategies, policies and law have engaged in promoting a genuine corporate social responsibility and the reporting about it and in fighting against greenwashing. After a sectorial regulation (Sustainable Finance Disclosures Regulation in 2018), a general regulation came to standardize the information about environmentally sustainable activities (the Taxonomy Regulation in 2019). Considering the dramatic expansion of the pool of subjects of the non-financial reporting duty, European businesses need to consider their social responsibility pursuant to criteria and objectives of environmentally sustainable economic activities set forth by the Taxonomy Regulation. Consequently, the interpretation and application of these criteria and objectives is not only challenging but also important on theoretical as well as practical levels. The goal of this paper is to contribute to their deeper conceptual understanding (i) by identifying them, (ii) by exploring them and their roots, in the context and while considering mischief, purposive and teleological rules, and (iii) by engaging with a critical and comparative juxtaposition. This reveals selective preferences and trends which are to be reflected on while balancing the six priorities of the European Commission for 2019-2024.

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