Eurochambres position on the Taxonomy Regulation

EUROCHAMBRES acknowledge the need for and support the mobilisation of private capital to deliver on the goal of climate neutrality while creating growth and jobs. In this respect, a well-designed and user-friendly taxonomy can provide transparency on sustainable investment products and be an additional tool to raise the huge amounts of investment needed. The taxonomy must be supportive of companies willing to transition towards even more sustainable production practices, while ensuring that the administrative burden, especially for SMEs, remain proportionate.

However, we receive feedback that the scope of the taxonomy in practice will go far beyond the theoretically defined range, which means that besides financial institutions and large companies, even SMEs will quickly
face major challenges when it comes to their financing. Furthermore, overly strict thresholds and metrics could undermine a cost-efficient, gradual transition. Therefore, EUROCHAMBRES would like to highlight four key issues relevant for the business environment.