Europe requires investments of more than €620 billion ($684 billion) per annum to meet its energy transition goals, according to the 2023 Strategic Foresight Report, published by the European Commission. To direct this capital appropriately, the EU introduced a Taxonomy that defines what economic activities can be considered sustainable. Companies are required to report their sustainability KPIs using the EU Taxonomy, which helps investors assess and compare investment opportunities.
Large companies have made significant efforts to implement the EU Taxonomy over the past couple of years. In 2024, for the very first time, it is possible to reflect on a full year's worth of reporting and observe how investment strategies have evolved.
EU Taxonomy data shines a light on the companies and sectors that are moving the fastest on the energy transition, and on those investing to become tomorrow’s sustainability leaders. To help financial firms identify these opportunities, we used Bloomberg’s best-in-class data to review the reporting for FY2023 to date and produce a study on the sustainability KPIs of companies reporting Taxonomy metrics in their non-financial disclosures, and analyzed year-on-year trends and sectoral differences.
Acting on ESG risks and opportunities requires robust and reliable data, and firms should choose a data provider they can trust and partner with. At Bloomberg we are proud to deliver comprehensive data solutions that give financial firms the information they need to make smarter decisions.