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Green finance requirements under EU taxonomy simplified

( July 4, 2025, 15:11 GMT | Official Statement) -- MLex Summary: Financial and non-financial companies may be exempt from certain reporting obligations under the EU’s classification system for sustainable economic activities, known as the EU Taxonomy, the European Commission said today in its new delegated act. Businesses will no longer have to assess their economic activities' alignment with the taxonomy if those activities are not financially material to their operations, the commission said. The number of reporting template data points will be reduced by 89 percent for financial companies, and by 64 percent for non-financial. The initiative is part of the EU’s broader Omnibus simplification agenda aimed at reducing the administrative burden while preserving core sustainability objectives.Full press release follows, delegated act attached:...

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