EC Communication on the Interpretation and Implementation of Certain Legal Provisions of the Delegated Act on Disclosure of Information under Article 8 of the EU Taxonomy Regulation on the Notification of Activities and Assets

On 21 December 2023, the European Commission published this communication on the interpretation and implementation of certain legal provisions of the Delegated Disclosure Act under Article 8 of the EU Taxonomy Regulation on the reporting of eligible and Taxonomy-aligned economic activities and assets (third Commission Notice), the purpose of which is to provide further interpretive and implementation guidance to financial firms in the form of answers to frequently asked questions (FAQs) on reporting their KPIs, under the Delegated Reporting Act.

These FAQs come from stakeholders subject to the reporting requirements, the Platform on Sustainable Finance and national and European supervisory authorities. Through this Communication, the Commission aims to facilitate stakeholders' compliance with regulatory requirements in a cost-effective manner and to ensure the use and comparability of the information submitted to scale up sustainable finance.

The answers to frequently asked questions provided in this Notice clarify the rules already contained in the applicable law. The replies do not extend the rights and obligations arising from that legislation, nor do they introduce any additional requirements for operators and competent authorities.