THE EU TAXONOMY AS A BUSINESS ASSESSMENT TOOL: OPPORTUNITIES AND THREATS, CHANCES TO USE NEW TECHNOLOGIES

Abstract

The text presents EU taxonomy, part of European Green Deal, as a tool for environmental verification of businesses. It explains and describes the concept and relationship between EGD, CSRD, ESG and taxonomy. The text also attempts to identify the opportunities and risks for entrepreneurs associated with these new regulations. Understanding and exploiting them can support growth in the market. The first part of text focuses on the characterisation of the EGD policy and, within this, non-financial ESG reporting as CSRD obligation. Part two focuses on what the taxonomy is and what it serves. The third and final part deals with the new standards for categorising business activities as environmentally sustainable and the criteria for such recognition. In this part, an attempt is also made to indicate the possibilities of using new technologies like GIS and AI in taxonomy. Paper ends with conclusions and de lege ferenda recommendations. The whole is finished with list of resources valid on 15.05.2024.