In order to support the achievement of the objectives of the European Green Deal, recognising the importance of the financial sector and with the aim of preventing greenwashing, in its 2018 Action Plan the European Union introduced EU Regulation 2020/852 (the so-called EU Taxonomy), which establishes the criteria for determining whether an economic activity can be considered environmentally sustainable.
According to the Taxonomy, an economic activity is considered sustainable if it:
- contributes substantially to one or more of the EU’s six environmental objectives;
- complies with the “Do No Significant Harm” (DNSH) principle, meaning that it does not harm any of the other objectives;
- meets minimum safeguards, in compliance with the OECD Guidelines for Multinational Enterprises and the United Nations Guiding Principles on Business and Human Rights.
| EU Taxonomy environmental objectives |
|---|
| Climate change mitigation |
| Climate change adaptation |
| Pollution prevention and control |
| Transition to a circular economy |
| Sustainable use and protection of water and marine resources |
| Protection and restoration of biodiversity and ecosystems |
ERG Group’s activities are 100% aligned with the EU Taxonomy.
Activities 4.1 (electricity generation using solar photovoltaic technology), 4.3 (electricity generation from wind power) and 4.10 (storage) make a substantial contribution to climate change mitigation.
The investment plan (CapEx) is also 100% aligned with the EU Taxonomy, as it is focused on the development of the renewable business.
2025 ANALYSIS RESULTS (M€)
| REVENUES | COSTS | CAPEX | |
|---|---|---|---|
| Total (M€) | 733.5 | 83.1 | 231.7 |
| % aligned | 100% aligned | 100% aligned | 100% aligned |
| % main | 81% | 89% | 94% |
| % secondary | 19% | 11% | 3% |
| % additional | - | - | 3% |
| Values by technology (M€) | 592.9 / 140.7 | 74.3 / 8.8 | 217.8 / 5.9 / 8.0 |
For Taxonomy purposes, the following were considered:
Revenues: Consolidated Revenues (€743.6 million) and the contribution from Sweden (€8.8 million), for a total of €752.4 million, net of the fair value of hedging instruments (€18.9 million in revenues), resulting in a net total of €733.5 million
Costs: Maintenance costs only (€72.8 million) and personnel costs of dedicated staff (€10.3 million), for a total of €83.1 million
Capex: Consolidated Capex (€234.6 million), net of goodwill (€3.0 million), resulting in a net total of €231.7 million
Investments also include intangible concessions and licences.