Quote by Jacob Kleinow, Manager in the Regulatory Management Practice Group:
“Starting in 2024, the EU Taxonomy Regulation requires most banks to report annually on what proportion of the projects they finance is sustainable. In this context, we were commissioned by regional banks to make them ready to disclose their Green Asset Ratio.
Our solution is a procedure which allows the front and back offices to quickly and easily determine the sustainability of a company’s credit request. To achieve this, we have boiled down 2,500 pages of EU and German regulations to a straightforward sequence of possible questions for each financing request. This means that bank employees can easily gather all the important information – for example the expected carbon emissions – for a financing project as part of their day-to-day business.
The software we developed then calculates whether the project is sustainable according to the EU’s definition – and gives it the thumbs-up or thumbs-down. On top of that, the tool supports employees with the documentation and quality assurance of the results. Our Taxonomy Tool is a sophisticated technical solution that sets new standards.”
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