COMMISSION DELEGATED REGULATION (EU) 2021/2178
of 6 July 2021
supplementing Regulation (EU) 2020/852 of the European Parliament and of the Council by specifying the content and presentation of information to be disclosed by undertakings subject to Articles 19a or 29a of Directive 2013/34/EU concerning environmentally sustainable economic activities, and specifying the methodology to comply with that disclosure obligation
(Text with EEA relevance)
Article 1
Definitions
Article 2
Disclosures by non-financial undertakings
Article 3
Disclosures by asset managers
Article 4
Disclosures by credit institutions
Article 5
Disclosures by investment firms
Article 6
Disclosures by insurance and reinsurance undertakings
Article 7
Disclosure rules common to all financial undertakings
Article 8
Disclosure rules common to all financial undertakings and non-financial undertakings
Article 9
Review
Article 10
Entry into force and application
ANNEX I
KPIs OF NON-FINANCIAL UNDERTAKINGS
1.
Content of KPIs to be disclosed by non-financial undertakings
1.1.
Specification of key performance indicators (KPI)
1.1.1.
KPI related to turnover (turnover KPI)
1.1.2.
KPI related to capital expenditure (CapEx) (CapEx KPI)
1.1.2.1. Denominator
1.1.2.2. Numerator
1.1.3.
KPI related to operating expenditure (OpEx) (OpEx KPI)
1.1.3.1. Denominator
1.1.3.2. Numerator
1.2.
Specification of disclosures accompanying the KPIs of non-financial undertakings
1.2.1.
Accounting policy
1.2.2.
Assessment of compliance with Regulation (EU) 2020/852
1.2.2.1. Information on assessment of compliance with Regulation (EU) 2020/852:
1.2.2.2. Contribution to multiple objectives
1.2.2.3. Disaggregation of KPIs
1.2.3.
Contextual information
1.2.3.1. Contextual information about turnover KPI
1.2.3.2. Contextual information about CapEx KPI
1.2.3.3. Contextual information about the OpEx KPI
2.
Methodology for reporting of KPIs to be disclosed by non-financial undertakings
ANNEX II
TEMPLATES FOR THE KPIs OF NON-FINANCIAL UNDERTAKINGS
Template: Proportion of turnover from products or services associated with Taxonomy-aligned economic activities – disclosure covering year N
Template: Proportion of CapEx from products or services associated with Taxonomy-aligned economic activities – disclosure covering year N
Template: Proportion of OpEx from products or services associated with Taxonomy-aligned economic activities – disclosure covering year N
ANNEX III
KPI OF ASSET MANAGERS
1.
Content of KPI to be disclosed by asset managers
1.1.
Numerator
1.2.
Denominator
2.
Methodology for preparing and reporting the KPI to be disclosed by asset managers
ANNEX IV
TEMPLATE FOR THE KPI OF ASSET MANAGERS
The weighted average value of all the investments that are directed at funding, or are associated with taxonomy-aligned economic activities relative to the value of total assets covered by the KPI, with following weights for investments in undertakings per below: Turnover-based: % CapEx—based: % |
The weighted average value of all the investments that are directed at funding, or are associated with taxonomy-aligned economic activities, with following weights for investments in undertakings per below: Turnover-based: [monetary amount] CapEx-based: [monetary amount] |
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The percentage of assets covered by the KPI relative to total investments (total AuM). Excluding investments in sovereign entities, Coverage ratio: % |
The monetary value of assets covered by the KPI. Excluding investments in sovereign entities. Coverage: [monetary amount] |
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Additional, complementary disclosures: breakdown of denominator of the KPI |
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The percentage of derivatives relative to total assets covered by the KPI. X % |
The value in monetary amounts of derivatives:. [monetary amount] |
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The proportion of exposures to EU financial and non-financial undertakings not subject to Articles 19a and 29a of Directive 2013/34/EU over total assets covered by the KPI: For non-financial undertakings: For financial undertakings: |
Value of exposures to EU financial and non-financial undertakings not subject to Articles 19a and 29a of Directive 2013/34/EU: For non-financial undertakings: [monetary amount] For financial undertakings: [monetary amount] |
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The proportion of exposures to financial and non-financial undertakings from non-EU countries not subject to Articles 19a and 29a of Directive 2013/34/EU over total assets covered by the KPI: For non-financial undertakings: For financial undertakings: |
Value of exposures to financial and non-financial undertakings from non-EU countries not subject to Articles 19a and 29a of Directive 2013/34/EU: For non-financial undertakings: [monetary amount] For financial undertakings: [monetary amount] |
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The proportion of exposures to financial and non-financial undertakings subject to Articles 19a and 29a of Directive 2013/34/EU over total assets covered by the KPI: For non-financial undertakings: For financial undertakings: |
Value of exposures to financial and non-financial undertakings subject to Articles 19a and 29a of Directive 2013/34/EU: For non-financial undertakings: [monetary amount] For financial undertakings: [monetary amount] |
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The proportion of exposures to other counterparties over total assets covered by the KPI: X % |
Value of exposures to other counterparties: [monetary amount] |
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The value of all the investments that are funding economic activities that are not taxonomy-eligible relative to the value of total assets covered by the KPI: X % |
Value of all the investments that are funding economic activities that are not taxonomy-eligible: [monetary amount] |
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The value of all the investments that are funding taxonomy-eligible economic activities, but not taxonomy-aligned relative to the value of total assets covered by the KPI: X % |
Value of all the investments that are funding Taxonomy-eligible economic activities, but not taxonomy-aligned: [monetary amount] |
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Additional, complementary disclosures: breakdown of numerator of the KPI |
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The proportion of Taxonomy-aligned exposures to financial and non-financial undertakings subject to Articles 19a and 29a of Directive 2013/34/EU over total assets covered by the KPI: For non-financial undertakings: Turnover-based: % Capital expenditures-based: % For financial undertakings: Turnover-based: % Capital expenditures-based: % |
Value of Taxonomy-aligned exposures to financial and non-financial undertakings subject to Articles 19a and 29a of Directive 2013/34/EU: For non-financial undertakings: Turnover-based: [monetary amount] Capital expenditures-based: [monetary amount] For financial undertakings: Turnover-based: [monetary amount] Capital expenditures-based: [monetary amount] |
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The proportion of taxonomy-aligned exposures to other counterparties in over total assets covered by the KPI: Turnover-based: % Capital expenditures-based: % |
Value of taxonomy-aligned exposures to other counterparties: Turnover-based: [monetary amount] Capital expenditures-based: [monetary amount] |
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Breakdown of the numerator of the KPI per environmental objective |
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Taxonomy-aligned activities –: |
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Turnover: % CapEx:% |
Transitional activities: A% (Turnover; CapEx) Enabling activities: B% (Turnover; CapEx) |
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Turnover: % CapEx:% |
Transitional activities: A% (Turnover; CapEx) Enabling activities: B% (Turnover; CapEx) |
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Turnover: % CapEx:% |
Transitional activities: A% (Turnover; CapEx) Enabling activities: B% (Turnover; CapEx) |
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Turnover: % CapEx:% |
Transitional activities: A% (Turnover; CapEx) Enabling activities: B% (Turnover; CapEx) |
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Turnover: % CapEx:% |
Transitional activities: A% (Turnover; CapEx) Enabling activities: B% (Turnover; CapEx) |
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Turnover: % CapEx:% |
Transitional activities: A% (Turnover; CapEx) Enabling activities: B% (Turnover; CapEx) |
ANNEX V
KPIs OF CREDIT INSTITUTIONS
1.
Content of KPIs to be disclosed by credit institutions
1.1.
Scope of the KPIs
1.1.1.
Consolidation
1.1.2.
Total covered Assets
1.2.
Content of the KPIs and methodology
1.2.1.
Green asset ratio (GAR)
1.2.1.1. GAR applying to exposures to non-financial undertakings
Environmental objectives |
First step |
Second step |
Green asset ratio (GAR) |
Climate change mitigation |
Proportion of loans and advances/debt securities/equity instruments financing taxonomy-eligible economic activities for the objective of climate change mitigation as compared to total loans to/debt securities/equity instruments of non-financial undertakings and all other covered on-balance sheet assets |
Proportion of loans and advances/debt securities/equity instruments financing taxonomy-aligned economic activities for the objective of climate change mitigation, compared to loans and advances/debt securities/equity instruments financing economic activities in sectors covered by the taxonomy for the objective of climate change mitigation. |
Proportion of loans and advances/debt securities/equity instruments financing taxonomy-aligned economic activities for the objective of climate change mitigation, compared to total loans and advances/debt securities/equity instruments of non-financial undertakings and all other on-balance sheet assets |
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Of which: enabling activities Of which: enabling activities Of which transitional activities Of which transitional activities |
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Stock and flow |
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Climate change adaptation |
Proportion of loans and advances/debt securities/equity instruments financing Taxonomy-eligible economic activities for the objective of climate change adaptation compared to total loans to/debt securities/equity instruments of non-financial undertakings and all other covered on-balance sheet assets |
Proportion of loans and advances/debt securities/equity instruments financing taxonomy-aligned economic activities for the objective of climate change adaptation compared to loans and advances/debt securities/equity instruments financing economic activities in sectors covered by the taxonomy for the objective of climate change adaptation |
Proportion of loans and advances/debt securities/equity instruments financing taxonomy-aligned economic activities for the objective of climate change adaptation compared to total loans and advances/debt securities/equity instruments of non-financial undertakings and all other covered on-balance sheet assets |
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Of which: enabling activities Of which enabling activities Of which adaptation activities Of which transitional activities |
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Stock and flow |
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Other environmental activities |
Same ratios for each of the other four environmental objectives should be disclosed, once the screening criteria are defined. That is: 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. |
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(i) GAR for lending activities to equity holdings of non-financial undertakings for
loans and advances (GAR L&A)
(ii) GAR for debt securities to non-financial undertakings (‘GAR DS’)
(iii) Green asset ratio for equity holdings of credit institutions in non-financial undertakings (‘GAR EH’)
(iv) GAR on total financing in non-financial undertakings (lending plus equity holdings)
1.2.1.2. Green asset ratio for lending activities to and equity holdings of financial undertakings
1.2.1.3. Green asset ratio for retail exposures
(i)
Residential real estate lending
(ii)
Retail – Credits consumptions loans for cars
1.2.1.4. GAR for loans and advances financing public housing and other specialised lending to public authorities
1.2.1.5. Other on-balance sheet exposures – Repossessed real estate collaterals
1.2.1.6. Total GAR
1.2.2.
KPIs for off-balance sheet exposures
1.2.2.1. Green ratio for financial guarantees to financial and non-financial undertakings (FinGuar KPI)
1.2.2.2. Green ratio for assets under management (AuM KPI)
1.2.3.
KPIs on services other than lending – Fees and Commissions (F&C KPI)
1.2.4.
Other disclosures in the GAR: GAR for the trading portfolio
ANNEX VI
TEMPLATE FOR THE KPIS OF CREDIT INSTITUTIONS
Template number |
Name |
0 |
Summary of KPIs |
1 |
Assets for the calculation of GAR |
2 |
GAR sector information |
3 |
GAR KPI stock |
4 |
GAR KPI flow |
5 |
KPI off-balance sheet exposures |
6 |
KPI on fees and commissions income from services other than lending and asset management |
7 |
KPI Trading book portfolio |
0.
Summary of KPIs to be disclosed by credit institutions under Article 8 Taxonomy Regulation
1.
Assets for the calculation of GAR
2.
GAR sector information
3.
GAR KPI stock
4.
GAR KPI flow
5.
KPI off-balance sheet exposures
6.
KPI on fees and commissions inclome from services other than lending and asset management
7.
KPI Trading book portfolio
ANNEX VII
KPIs OF INVESTMENT FIRMS
Content of KPIs to be disclosed by investment firms
1.
Scope of KPIs
2.
Investment firms dealing on own account
2.1.
KPIs related to their assets as:
2.2.
Investee undertakings considered
2.3.
Investment instruments considered – assets
2.4.
Calculation methodology
3.
Investment firms not dealing on own account
3.1.
KPIs related to revenue, including fees, commissions and other monetary benefits as:
3.2.
Clients considered
3.3.
Calculation methodology
3.4.
Further consideration
ANNEX VIII
TEMPLATE FOR KPIS OF INVESTMENT FIRMS
Tempate number |
Name |
0 |
Summary of KPIs to be disclosed by investment firms under Article 8 Taxonomy Regulation |
1 |
KPI IF - Dealing on own account services |
2 |
KPI IF Other services |
0.
Summary of KPIs to be disclosed by investment firms under Article 8 Taxonomy Regulation
1.
KPI IF - Dealing on own account services
2.
KPI IF Other services
ANNEX IX
KPIs OF INSURANCE AND REINSURANCE UNDERTAKINGS
1.
KPI related to investments
2.
KPI related to underwriting activities
ANNEX X
TEMPLATE FOR KPIs OF INSURANCE AND REINSURANCE UNDERTAKINGS
Template: The underwriting KPI for non-life insurance and reinsurance undertakings
Template: The proportion of the insurance or reinsurance undertaking’s investments that are directed at funding, or are associated with, Taxonomy-aligned in relation to total investments
The weighted average value of all the investments of insurance or reinsurance undertakings that are directed at funding, or are associated with Taxonomy-aligned economic activities relative to the value of total assets covered by the KPI, with following weights for investments in undertakings per below: Turnover-based: % Capital expenditures-based: % |
The weighted average value of all the investments of insurance or reinsurance undertakings that are directed at funding, or are associated with Taxonomy-aligned economic activities, with following weights for investments in undertakings per below: Turnover-based: [monetary amount] Capital expenditures-based: [monetary amount] |
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The percentage of assets covered by the KPI relative to total investments of insurance or reinsurance undertakings (total AuM). Excluding investments in sovereign entities. Coverage ratio: % |
The monetary value of assets covered by the KPI. Excluding investments in sovereign entities. Coverage: [monetary amount] |
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Additional, complementary disclosures: breakdown of denominator of the KPI |
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The percentage of derivatives relative to total assets covered by the KPI. X % |
The value in monetary amounts of derivatives. [monetary amount] |
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The proportion of exposures to financial and non-financial undertakings not subject to Articles 19a and 29a of Directive 2013/34/EU over total assets covered by the KPI: For non-financial undertakings: For financial undertakings: |
Value of exposures to financial and non-financial undertakings not subject to Articles 19a and 29a of Directive 2013/34/EU: For non-financial undertakings: [monetary amount] For financial undertakings: [monetary amount] |
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The proportion of exposures to financial and non-financial undertakings from non-EU countries not subject to Articles 19a and 29a of Directive 2013/34/EU over total assets covered by the KPI: For non-financial undertakings: For financial undertakings: |
Value of exposures to financial and non-financial undertakings from non-EU countries not subject to Articles 19a and 29a of Directive 2013/34/EU: For non-financial undertakings: [monetary amount] For financial undertakings: [monetary amount] |
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The proportion of exposures to financial and non-financial undertakings subject to Articles 19a and 29a of Directive 2013/34/EU over total assets covered by the KPI: For non-financial undertakings: X % For financial undertakings: X % |
Value of exposures to financial and non-financial undertakings subject to Articles 19a and 29a of Directive 2013/34/EU: For non-financial undertakings: [monetary amount] For financial undertakings: [monetary amount] |
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The proportion of exposures to other counterparties over total assets covered by the KPI: X % |
Value of exposures to other counterparties: [monetary amount] |
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The proportion of the insurance or reinsurance undertaking’s investments other than investments held in respect of life insurance contracts where the investment risk is borne by the policy holders, that are directed at funding, or are associated with, Taxonomy-aligned economic activities: X % |
Value of insurance or reinsurance undertaking’s investments other than investments held in respect of life insurance contracts where the investment risk is borne by the policy holders, that are directed at funding, or are associated with, Taxonomy-aligned economic activities: [monetary amount] |
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The value of all the investments that are funding economic activities that are not Taxonomy-eligible relative to the value of total assets covered by the KPI: X % |
Value of all the investments that are funding economic activities that are not Taxonomy-eligible: [monetary amount] |
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The value of all the investments that are funding Taxonomy-eligible economic activities, but not Taxonomy-aligned relative to the value of total assets covered by the KPI: X % |
Value of all the investments that are funding Taxonomy-eligible economic activities, but not Taxonomy-aligned: [monetary amount] |
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Additional, complementary disclosures: breakdown of numerator of the KPI |
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The proportion of Taxonomy-aligned exposures to financial and non-financial undertakings subject to Articles 19a and 29a of Directive 2013/34/EU over total assets covered by the KPI: For non-financial undertakings: Turnover-based: % Capital expenditures-based: % For financial undertakings: Turnover-based: % Capital expenditures-based: % |
Value of Taxonomy-aligned exposures to financial and non-financial undertakings subject to Articles 19a and 29a of Directive 2013/34/EU: For non-financial undertakings: Turnover-based: [monetary amount] Capital expenditures-based: [monetary amount] For financial undertakings: Turnover-based: [monetary amount] Capital expenditures-based: [monetary amount] |
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The proportion of the insurance or reinsurance undertaking’s investments other than investments held in respect of life insurance contracts where the investment risk is borne by the policy holders, that are directed at funding, or are associated with, Taxonomy-aligned: Turnover-based: % Capital expenditures-based: % |
Value of insurance or reinsurance undertaking’s investments other than investments held in respect of life insurance contracts where the investment risk is borne by the policy holders, that are directed at funding, or are associated with, Taxonomy-aligned: Turnover-based: [monetary amount] Capital expenditures-based: [monetary amount] |
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The proportion of Taxonomy-aligned exposures to other counterparties in over total assets covered by the KPI: Turnover-based: % Capital expenditures-based: % |
Value of Taxonomy-aligned exposures to other counterparties over total assets covered by the KPI: Turnover-based: [monetary amount] Capital expenditures-based: [monetary amount] |
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Breakdown of the numerator of the KPI per environmental objective |
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Taxonomy-aligned activities – provided ‘do-not-significant-harm’(DNSH) and social safeguards positive assessment: |
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Turnover: % CapEx: % |
Transitional activities: A % (Turnover; CapEx) Enabling activities: B % (Turnover; CapEx) |
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Turnover: % CapEx: % |
Transitional activities: A % (Turnover; CapEx) Enabling activities: B % (Turnover; CapEx) |
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Turnover: % CapEx: % |
Transitional activities: A % (Turnover; CapEx) Enabling activities: B % (Turnover; CapEx) |
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Turnover: % CapEx: % |
Transitional activities: A % (Turnover; CapEx) Enabling activities: B % (Turnover; CapEx) |
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Turnover: % CapEx: % |
Transitional activities: A % (Turnover; CapEx) Enabling activities: B % (Turnover; CapEx) |
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Turnover: % CapEx: % |
Transitional activities: A % (Turnover; CapEx) Enabling activities: B % (Turnover; CapEx) |