Pursuant to Article 8 of the Taxonomy*, every company that is required to publish non-financial information pursuant to Article 19a or 29a of Directive 2013/34/EU of the European Parliament and of the Council** , will be required to include in its non-financial statement or consolidated non-financial statement information on how and to what extent its business relates to economic activity that qualifies as sustainable.
According to Article 10 of Delegated Regulation 2021/2178 of the European Parliament and of the Council*** („Delegated Act”) stating more precisely Article 8 of the Taxonomy in the context of financial companies doing their reporting, they are obligated to present the following disclosures in 2022 in respect of 2021:
- Quantitative disclosures:
- exposures to business activities eligible to participate in the system (per KPI on revenue and KPI on investment expenditure) stated as a percentage share of total assets,
- exposures to business activities not eligible to participate in the system (per KPI on revenue and KPI on investment expenditure) stated as a percentage share of total assets,
- exposures referred to in Article 7 sections 1 and 2 of the Delegated Act stated as a percentage share of total assets,
- exposures referred to in Article 7 section 3 of the Delegated Act stated as a percentage share of total assets;
- Qualitative disclosures – in line with Annex XI to the Delegated Act. 3
- Additionally, as an insurance undertaking PZU is obligated to disclose the percentage share of its business activities in insurance other than life insurance that is eligible to participate in the system and business activities in insurance other than life insurance not eligible to participate in the system.
*Regulation (EU) 2020/852 of the European Parliament and of the Council of 18 June 2020 on the establishment of a framework to facilitate sustainable investment, amending Regulation (EU) 2019/2088
** Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, amending Directive 2006/43/EC of the European Parliament and of the Council and repealing Council Directives 78/660/EEC and 83/349/EEC
***Commission Delegated Regulation (EU) 2021/2178 of 6 July 2021 supplementing Regulation (EU) 2020/852 of the European Parliament and of the Council by specifying the content and presentation of information to be disclosed by undertakings subject to Articles 19a or 29a of Directive 2013/34/ EU concerning environmentally sustainable economic activities, and specifying the methodology to comply with that disclosure obligation