The EU taxonomy is a cornerstone of the EU’s sustainable finance framework and an important market transparency tool. The taxonomy is a classification system that defines criteria for economic activities that are aligned with a net zero trajectory by 2050 and the broader environmental goals other than climate.

The objectives of the Regulation are to prevent the generation of packaging waste, boost high quality recycling and making all packaging on the EU market recyclable by 2030 and to reduce the need for primary natural resources and create a well functioning market for secondary raw materials.  Applicability: 2024 (TBD)