Measuring the Taxonomy Alignment of European Large Caps – Key Takeaways from ISS ESG’s Pilot Study

Measuring the Taxonomy Alignment of European Large Caps – Key Takeaways from ISS ESG’s Pilot Study

DECEMBER 1, 2020

Climate-focused sustainability consultancy adelphi and ISS ESG were commissioned by the German Federal Ministry for the Environment, in the context of Germany’s Presidency of the EU Council in 2020, to assess the current state of alignment of listed European companies as well as banks’ lending activities with the EU Taxonomy for sustainable finance.

In the course of the project, ISS ESG assessed the taxonomy alignment of 75 companies listed in three major European indices (EURO STOXX, DAX30 and CAC40). Taxonomy alignment was measured in terms of revenue shares derived from economic activities which, according to the taxonomy, can significantly contribute to climate change mitigation or adaptation, and are carried out in compliance with all taxonomy criteria for the respective economic activity.

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