Sustainable Finance

Classification of business activities and monetary valuation of long-term climate risks for companies and investors

The EU Taxonomy Regulation serves as a classification system to promote the steering of capital flows into environmentally sustainable business activities. sustainable supports affected companies in identifying taxonomy-compliant business activities and, based on this, develops recommendations for the implementation of the reporting obligation.

In addition, the business relevance of climate-related opportunities and risks is also gaining importance for financial market participants. sustainable supports companies in carrying out portfolio assessments as well as in the development of science-based climate targets.


The EU Taxonomy Regulation is a central component of the European Union’s “Action Plan for Sustainable Finance” and serves to support investors in identifying sustainable investments. According to the regulation, affected companies are to identify and report the percentage share of their sustainable activities in sales, investments (CAPEX) and operating costs (OPEX). In addition, the transparency requirements also apply to financial products in order to assess the coverage of ESG aspects. The assessment of business activities with regard to their conformity with the EU Taxonomy is carried out in a multiple-step analysis:

  • First, the company’s business activities are identified and their assignability to defined NACE codes within the EU taxonomy is analyzed.
  • Subsequently, the business activities are reviewed according to Technical Screening Criteria with regard to their substantial contribution to at least one of six defined environmental goals.
  • The next step is to analyze whether the business activities avoid harm against the other five environmental goals (“Do No Significant Harm”).
  • Finally, to ensure Taxonomy compliance, the fulfillment of defined Minimum Safeguard requirements must be ensured.
Finanzmarktakteur, Investitionen, Investor, Risikobewertung, Investment, Portfolio, Aktien
Impact, Klimarisiko, TCFD, Stakeholder, Finanzberichterstattung, Paris, Agreement, Klimaziel, GRI, Chancen, börsenotiert

Portfolio assessment & climate target setting for financial market participants

Climate management is becoming increasingly important on the financial market. Customers and other stakeholder groups are demanding that financial market participants equally set climate targets and pursue them through targeted strategies. The basis for this is a portfolio assessment, which can be carried out using tools and methods from established providers, for example in accordance with the specifications of PCAF, Pacta or the 2° Investment Initiative. Based on this, a science-based climate target can be developed, which is aligned with the Financial Sector Guidance of the Science-Based-Target Initiative.

This targeted alignment of business activities with climate-related opportunities and risks allows to increase resilience and competitiveness. sustainable supports financial market participants in portfolio assessment (including funds, ETFs, indices such as S&P 100, STOXX 50 or DAX 50 ESG) and, building on this, in the development and verification of science-based climate targets.

Climate Impact Assessment

sustainable carries out the monetary assessment of GHG emissions in companies using its own model. This can be carried out individually and according to the needs based on short-, medium- or long-term time horizons. Within the framework of this Climate Impact Assessment, sustainable can concretize the previously generated results from the portfolio assessment. The analysis thus represents a deep dive for selected positions in the portfolio that are particularly emissions-intensive.

For financial market players, the information is provided in the form of data sets as an Excel file.

Information on the Climate Impact Assessment as PDF download

Finanzmarktakteur, Investitionen, Investor, Risikobewertung, Investment, Portfolio, Aktien