Authors: Raza Naeem, Vanessa Havard-Williams

ESG Update: Article 8 Taxonomy disclosures for Banks, Investment firms, Insurers and Corporates

On Friday 7 May 2021, the European Commission launched its consultation on reporting requirements for corporates and financial institutions under Article 8 of the Taxonomy Regulation. These rules oblige EU corporates and financial institutions that are large public interest entities reporting under the NFRD today to disclose the extent to which their business activities are Taxonomy aligned or not. This note looks at the key proposals in the consultation; the definition of large public interest entities under the NFRD; timing; and what firms should do now.