Nordic Circular Hotspot Seasonal Event is free and open to everyone interested in the circular economy.
Date and time: 31. August, 13:00–14:30, online"The EU is currently the main circular driving force in Europe. The circular benefits for more efficient material usage have long been a motivator for the EU, and with the "Green Deal" framework, passed in 2019, circularity was given the task of securing half of the zero CO2 emission by 2050 goal.”
The EU Taxonomy can be considered the leading regulatory framework the EU utilises to achieve its sustainability goals. The Taxonomy is a science-based classification system for determining whether an economic activity can be considered environmentally sustainable. It is being implemented gradually, first affecting the finance market and larger companies in selected industries. It is expected to be mandatory for all companies and sectors when fully developed.
The three key goals of the Taxonomy:
Reorientation of capital flows with a focus on sustainable investments
Establishing sustainability as a component of risk management
Promoting and encouraging long-term investments and economic activity
The criteria for being sustainable according to the Taxonomy are:
The economic activity contributes to one of the six environmental objectives
The economic activity does ‘no significant harm’ (DNSH) to any of the six environmental objectives
The economic activity meets ‘minimum safeguards’, such as the UN Guiding Principles on Business and Human Rights, to not have a negative social impact
The economic activity complies with the technical screening criteria developed by the EU Technical Expert Group
The Taxonomy and further EU regulations will, in the coming years, increasingly impact how business is funded and run.
This event will explore "Taxonomy, Transparency and Circularity: regulatory impact on the Nordic economy" with a focus on the EU Taxonomy and the Transparency Act.