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ARTICLE · 22 APRIL 2021

Define And Conquer: What Might The EU Taxonomy Mean For Aviation?

Reed Smith (Worldwide)
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Essentially, this is an attempt to identify certain economic activities that qualify as ‘environmentally sustainable' in order encourage investment in those activities.

European UnionTransport
Ashleigh Standen
Ashleigh Standen
Luke Drake
Luke Drake
Francesca Moss
Francesca Moss
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What is the EU Taxonomy?

Essentially, this is an attempt to identify certain economic activities that qualify as 'environmentally sustainable' in order encourage investment in those activities.

The EU Taxonomy Regulation (the 'Taxonomy') came into force on 12 July 2020, and requires that in order for an economic activity to be 'environmentally sustainable' it must meet each of the following four conditions:

  1. it contributes substantially to at least one of the six environmental objectives set out below;
  2. it does not significantly harm any of the other environmental objectives;
  3. it is carried out in compliance with certain minimum social safeguards; and
  4. it complies with technical screening criteria, which the European Commission is to establish by way of delegated acts.1

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