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Erik Florman
Hållbarhetschef
072 205 03 96
erik.florman@akademiskahus.se

EU taxonomy and digitalised financial reporting create opportunities for sustainable transition

Monday, 12 December 2022

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The EU taxonomy creates new opportunities to monitor Akademiska Hus’ financial status from a sustainability perspective. Combining and digitalising financial and sustainability reporting will make it easier to identify where initiatives are needed in the business in order to achieve the company’s climate goals, while also providing greater transparency and more efficient reporting.

Climate emissions from the property industry account for a significant part of the total climate footprint, and as one of Sweden’s largest property owners, Akademiska Hus can make a big difference. In 2022, the company began working based on a new climate goal – climate neutrality throughout the value chain by 2035.

Akademiska Hus is also subject to the EU taxonomy regulation, which includes rules that determine when a financial operation is to be considered environmentally sustainable. In this way, investments can be compared based on common definitions of what is sustainable.

Consequently, beginning in 2022 Akademiska Hus is compiling data regarding its financial status, mainly generated turnover, and measuring what proportion of it is classified as sustainable according to the legal requirement. Beginning in 2023, fulfilment of objectives regarding technical criteria must also be reported. Akademiska Hus has over 550 buildings in its portfolio that are undergoing analysis with respect to their fulfilment of objectives linked to the technical criteria. This information will then be analysed in relation to the financial outcomes for these buildings.

— Using our large property portfolio as a point of departure, digitalisation of the process has been a clear vision and has now culminated in a unique, seamless and automated tool for financial tracking in compliance with the new legal requirements. This tool is crucial for monitoring reporting requirements and is also a key component that enables Akademiska Hus to analyse the business and guide it towards becoming even more sustainable, says Erik Florman, Sustainability Manager at Akademiska Hus.

The outcome will be reported for the first time in the annual and sustainability report for the 2022 financial year. The new technical criteria apply to the 2022 financial year and will not be published until 2023.

Facts about the EU taxonomy

The EU taxonomy is part of the EU Commission’s EU Green Deal action plan. It is a classification system for sustainable finance that provides a common language and basis for assessment to identify environmentally sustainable economic activities. The goal of the taxonomy is to facilitate investments that promote the transition to a more sustainable economy, as well as to help meet the requirements of Agenda 2030 and the global goals.

Facts about the EU taxonomy

The EU taxonomy is part of the EU Commission’s EU Green Deal action plan. It is a classification system for sustainable finance that provides a common language and basis for assessment to identify environmentally sustainable economic activities. The goal of the taxonomy is to facilitate investments that promote the transition to a more sustainable economy, as well as to help meet the requirements of Agenda 2030 and the global goals.