Companies are making encouraging progress with initial climate and sustainability disclosures, especially in sectors like utilities and real estate, demonstrating how capital expenditures associated with the EU Taxonomy can facilitate the transition of key industrial activity.

Companies that develop net-zero technology manufacturing projects identified as having a greater potential for decarbonisation will benefit from fast-track permit procedures for construction or expansion and guidance in accessing finance, under new legislation set to be passed at EU level.

The body tasked with developing EU financial reporting standards, including sustainability reporting, has developed a set of reporting guidelines for small to medium businesses (SMEs) to help facilitate their access to finance and to standardise sustainability data requests.