With our sustainable financial instruments, we contribute to the achievement of global sustainability goals.

We actively contribute to the public debate on sustainable finance and engage in dialogue with leading sustainability rating agencies. Our sustainable financial instruments underpin our corporate strategy to develop into a sustainable and innovative infrastructure partner.

To implement the taxonomy requirements across the Group, we already launched a project in the 2020 financial year. We established a steering committee to work together with the relevant specialist departments in determining the environmentally sustainable revenue, capex and opex, as well as the adjusted EBITDA, related to the Group’s taxonomy-eligible activities.

As of the 2021 financial year, we started applying the EU taxonomy in full to the EnBW business portfolio before the legal obligation began. There has been a legal obligation to apply the EU taxonomy since the 2022 financial year. With the 2023 financial year, the reporting obligation was extended to include the other four EU environmental targets. However, EnBW's business activities continue to contribute to the first environmental target “climate change mitigation”.

Taxonomy conformity was demonstrated for the business activities shown in the chart. The existing business transactions for each activity were analyzed and evaluated with respect to being taxonomy-aligned.

Based on the available documentation for the six environmental objectives of the EU taxonomy, we carried out an examination of the contributions made by our business activities. We believe that our main contribution is in the area of climate change mitigation, which means that no contribution of EnBW's activities to the other five environmental targets is not reported.