Taxonomy

The EU taxonomy evaluates the environmental sustainability of operations

The EU taxonomy is a classification system for sustainable finance that defines sustainable financial activities with respect to the environment. The classifications measures how activities contribute to the EU's six environmental objectives. The EU's shared environmental objectives are climate change mitigation, climate change adaptation, sustainable use and protection of water and marine resources, transition to a circular economy, pollution prevention and control, and protection and restoration of biodiversity and ecosystems.

Our operations are sustainable

An activity is eligible for classification under the taxonomy if it is mentioned in the list of activities in the Taxonomy Regulation. Our line of business – electricity distribution – enables the electrification of society, substantially contributing to the EU's environmental goal of climate change mitigation, so it is eligible for classification under the taxonomy. We have examined our operations solely in terms of the sustainability criteria for electricity distribution because the scale of our activities that are not related to electricity distribution is negligible.

Conformance with the taxonomy means that the activity makes a significant contribution to the achievement of at least one EU environmental objective and does not cause substantial harm to the other five environmental objectives (the "Do No Significant Harm" principle). In line with our certified environmental management system, we regularly assess our environmental impacts and the measures we take to manage them to ensure that our operations do no significant harm.

Sustainability assessment also ensures the realisation of social safeguards

Conformance with the taxonomy also requires the introduction of social safeguards that satisfy the EU's minimum standards. Our Code of Conduct includes ethical principles that cover our commitment to respecting human rights, combating corruption and bribery, ensuring fair competition, and paying tax. Every member of our personnel attends regular training on the Code of Conduct. Compliance with the Code of Conduct is observed, and any breaches are addressed. All our stakeholders can report suspected breaches using the whistleblowing channel on our website (read more/link, etc. to the whistleblowing channel).