Glossar

The due diligence statement is a legally binding declaration for companies under the EUDR.

EFRAG is a non-profit organization promoting corporate reporting in Europe.

EMAS (Eco-Management and Audit Scheme) is a voluntary EU environmental management and audit system that helps companies continuously, transparently, and credibly improve their environmental performance.

The disclosure of environmental, social and governance data, known as ESG reporting, aims to make a company's activities in these areas transparent. This not only increases clarity for investors, but also motivates other organizations to take similar measures.

The Energy Savings Opportunity Scheme requires companies to conduct energy audits to identify savings potential.

The EU Commission's benchmarking system evaluates deforestation risks for seven regulated commodities.

The Emissions Trading System (ETS) is a market-based tool for reducing greenhouse gases that allows emissions rights to be traded. In the EU Emissions Trading System (EU ETS), companies from industry and aviation receive emission certificates that determine their permitted emissions. These certificates can be traded to create incentives for emissions reductions. If companies exceed their emission limits, they must pay fines or purchase additional certificates. The EU ETS plays a key role in the EU climate strategy and promotes investments in green technologies.

The EU taxonomy, a core part of the European Green Deal, classifies sustainable activities to steer investments into green innovations. It supports the EU goals for climate neutrality by 2050 and the significant reduction of emissions by 2030 by providing guidelines for sustainable investments. Activities must contribute to one of six environmental goals without causing significant damage, in accordance with the “Do No Significant Harm” principle, and comply with social standards. The goals focus on climate protection, adaptation, water use, circular economy, prevention of pollution and biodiversity.