Accountancy Europe shares observations on EU Taxonomy FAQs, based on four years of practical experience
Our new paper analyses how different actors in the corporate ecosystem can identify and mitigate greenwashing risks
The European Commission (EC) has launched a four-week public consultation, running until 14 April 2026, on the proposed amendments to the EU Taxonomy Environmental and Climate Delegated Acts (DAs). These amendments are targeted to update and simplify the technical screening criteria (TSC).
The Environmental DA amendments focus on :
The Climate DA amendments focus on :
The initiative preserves environmental integrity while delivering a more workable disclosure regime.
The EC DG FISMA requested technical advice from the European Supervisory Authorities (ESAs) to inform the review the Taxonomy Disclosures DA.
The advice should focus on specific Key Performance Indicators (KPIs), including:
DG FISMA also invited ESAs to advise on whether other targeted technical amendments to the DA are necessary to simplify and enhance the usability of Taxonomy reporting.
As a next step:
The EC has adopted a DA introducing Regulatory Technical Standards (RTS), under the European Green Bond Regulation (EUGB). It specifies certain requirements for the external reviewers verifying green bonds under EUGB. The DA:
The DA now enters a three-month scrutiny period by the European Parliament (EP) and Council.
The Omnibus Directive entered into force on 18 March 2026.
This legislation simplifies the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD).
Member States transpose the directive into national law to comply with:
The Council has formally adopted the amended European Climate Law, establishing a binding target to reduce net greenhouse gas emissions by 90% by 2040.
The regulation takes effect 20 days post-publication in the EU Official Journal (OJ) and will apply directly in all EU Member States.
Moving forward, the EC will present specific policy proposals to meet this target. Also, the amended climate law shifts the start of the ETS2 application by one year, from 2027 to 2028.
The EU Platform on Sustainable Finance (PSF) responded to the EC’s consultation on EFRAG’s technical advice for the amended European Sustainability Reporting Standards (ESRS). The PSF focused on the revised ESRS integration within the wider EU sustainable finance framework.
PSF key recommendations:
The Committee of European Auditing Oversight Bodies (CEAOB) issued an opinion on EFRAG’s revised ESRS, focusing on aspects related to external assurance over sustainability reporting assurance. The CEAOB:
EFRAG issued a position paper regarding proposed GHG Protocol Scope 2 changes. While supporting the goal of improving reporting comparability, EFRAG expressed concerns regarding proportionality, clarity, and implementation costs. Key recommendations include:
The ISSB launched its jurisdictional readiness assessment guide to assist jurisdictions in assessing how prepared their markets are for the adoption or other use of the ISSB Standards.
The guide offers practical examples drawn from the experiences of nearly 40 jurisdictions globally that have already moved towards ISSB standard implementation.
ACCA published a report titled ‘Sustainability reporting: working with estimates’. Key findings include:
European Commission
Call for evidence on simplification of administrative burden in environmental legislation
European Parliament
Sustainability-related disclosures in the financial services sector
Official Journal of the European Union
Corrigendum to the Commission Notice of 6 November on the interpretation and implementation of the EU Green Bond Regulation
