[NEW YORK, October 30, 2024] - KPMG International has released a report analyzing EU Taxonomy disclosures, titled Navigating EU Taxonomy, Insights into the EU Taxonomy disclosures of 291 European entities. The EU Taxonomy requires companies to report on the percentage of their revenues, operating expenditures, and capital expenditures associated with eligible and aligned activities as defined by the European Union.
The study offers valuable insights for U.S. companies navigating global sustainability reporting standards and reveals:
"As U.S. companies expand globally, understanding EU sustainability reporting requirements becomes crucial," said Maura Hodge, KPMG US Sustainability Leader. "This report provides a roadmap for American businesses to prepare for mandatory EU Taxonomy reporting in 2025."
Key findings with U.S. relevance:
"The EU Taxonomy's impact extends beyond Europe. U.S. companies with European operations or aspirations must comply with these standards," added Hodge. "Understanding EU company’s results allow US companies to determine where they want to be in the pack."
The report underscores the need for improved transparency and verification in sustainability disclosures, a trend gaining traction in the U.S. As American regulators consider similar measures, companies can leverage these insights to enhance their sustainability reporting practices proactively.
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