EUROSIF Recommendations - Review of the Delegated Act to Article 8 of the EU Taxonomy

The consultation conducted by the European Supervisory Authorities (ESAs) concerns technical advice for the European Commission and aims at a targeted review of the disclosure requirements under Article 8 of the EU Taxonomy. These disclosures are crucial for investors, as they allow them to assess the sustainability level of their portfolios, make informed investment decisions, and accurately report metrics at both the portfolio and entity levels.

📄 Key Eurosif recommendations:

• Simplification of the OpEx KPI: Focusing on clearly defined transition expenditures (e.g., R&D or "green" procurement) and better integration with accounting definitions to make the indicator more useful for asset managers.
• Separation of CapEx and OpEx: Combining these indicators would reduce transparency, hinder comparability, and create a risk of overstating the degree of portfolio alignment with the Taxonomy.
• Better alignment with ESRS: Strengthening the links between the Taxonomy and ESRS standards will reduce the duplication of obligations and streamline corporate reporting.
• Limiting exemptions for non-financial companies: Any reporting simplifications should be strictly transitional (phase-ins) and require clear justification.
• Streamlining activity categories: Considering the removal of separate reporting for enabling and transitional activities, unless the scope of the Taxonomy is expanded to include activities currently undergoing transition.

The deadline for submitting comments is August 12, 2026. Asset managers can still participate in the consultation.

What’s next? The final technical advice is expected to be submitted to the European Commission by the end of October 2026, with the adoption of the amended Delegated Act planned for early 2027.

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