EU taxonomy
This page describes Upright's EU taxonomy metrics.
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This page describes Upright's EU taxonomy metrics.
Last updated
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The (often called just the EU taxonomy) is a classification system developed by the EU, establishing a list of environmentally sustainable economic activities.
As described by the EU, the goal of the EU taxonomy is to provide companies, investors and policymakers with definitions for which economic activities can be considered environmentally sustainable. In this way, it seeks to:
Create security for investors
Protect private investors from greenwashing
Help companies to become more climate-friendly
Mitigate market fragmentation
Help shift investments where they are most needed
The EU taxonomy defines environmentally sustainable activities based on the following six objectives:
Climate change mitigation
Climate change adaptation
The sustainable use and protection of water and marine resources
The transition to a circular economy
Pollution prevention and control
The protection and restoration of biodiversity and ecosystems
(Metric ID in API in parentheses)
Turnover of environmentally sustainable activities (TTOT_alignment)
✅
✅
CapEx of environmentally sustainable activities (TTOT_alignment_capex)
✅
-
OpEx of environmentally sustainable activities (TTOT_alignment_opex)
✅
-
Turnover of taxonomy-aligible activities (TTOT_eligibility)
✅
✅
CapEx of taxonomy-eligibile activities (TTOT_alignment_capex)
✅
-
OpEx of taxonomy-eligible activities (TTOT_alignment_opex)
✅
-
(Metric ID in API in parentheses)
Turnover of enabling environmentally sustainable activities (TTOT_alignment_enabling)
✅
✅
CapEx of enabling environmentally sustainable activities (TTOT_alignment_enabling_capex)
✅
-
OpEx of enabling environmentally sustainable activities (TTOT_alignment_enabling_capex)
✅
-
Turnover of transitional environmentally sustainable activities (TTOT_alignment_transitional)
✅
✅
CapEx of transitional environmentally sustainable activities (TTOT_alignment_transitional_capex)
✅
-
OpEx of enabling environmentally sustainable activities (TTOT_alignment_transitional_opex)
✅
-
Objective-level metrics, provided separately for all six objectives
Objective-level metrics are provided for the following six EU taxonomy objectives:
TCCM
Climate change mitigation
TCCA
Climate change adaptation
TWTR
The sustainable use and protection of water and marine resources
TCIR
Transition to a Circular economy
TBIO
Protection and restoration of biodiversity and ecosystems
TPOL
Pollution prevention and control
List of metrics, replace "X" with the objective:
Proportion of turnover aligned with objective X (X_alignment_enabling)
✅
✅
Proportion of CapEx aligned with objective X (X_alignment_enabling_capex)
✅
-
Proportion of OpEx aligned with objective X (X_alignment_capex)
✅
-
Proportion of turnover eligibile for objective X (X_eligibility_enabling)
✅
✅
Proportion of CapEx eligible for objective X (X_eligibility_capex)
✅
-
Proportion of OpEx eligible for objective X (X_eligibility_opex)
✅
-
Nuclear and natural gas
(Metric ID in API in parentheses)
Proportion of turnover aligned with taxonomy objectives concerning nuclear energy (TCCN_alignment)
Coming soon
✅
Proportion of CapEx aligned with taxonomy objectives concerning nuclear energy (TCCN_alignment_capex)
Coming soon
-
Proportion of CapEx aligned with taxonomy objectives concerning nuclear energy (TCCN_alignment_opex)
Coming soon
-
Proportion of turnover aligned with taxonomy objectives concerning fossil fuels (TCCF_alignment)
Coming soon
✅
Proportion of CapEx aligned with taxonomy objectives concerning fossil fuels (TCCF_alignment_capex)
Coming soon
-
Proportion of CapEx aligned with taxonomy objectives concerning fossil fuels (TCCF_alignment_opex)
Coming soon
-
The company-level metrics are provided also aggregated to portfolio-level.
All portfolio metrics can be broken down to companies in each portfolio.
provides more information on the EU taxonomy, including its motivation, associated legislation and frequently asked questions.
These terms are defined in the published by the European Commission.
Upright provides the EU taxonomy metrics listed in this chapter. Estimated metrics are provided for all companies within . Reported metrics are provided for all companies within Upright's coverage for which reporting is available.
As required by the published by the European Supervisory Authorities in September 2023.
The weight of unrecognized assets is included in the denominator in portfolio-level EU taxonomy eligibility and alignment aggregation. In other words, unrecognized assets will be assumed to not qualify as taxonomy eligible or aligned. This interpretation follows the guidance laid out in the dated 25 May 2022. Unrecognized assets may include assets like currencies, government bonds or unrecognized company bonds.
In addition to the Upright Platform UI, all metrics listed above are available from the endpoint in the Upright API.