The objective of the Taxonomy in the field of international companies is to provide companies; investors, and policymakers with adequate definitions of economic activities that can be considered environmentally sustainable; or, in other words; to offer a screening system so that companies and investors determine whether an economic activity is ‘green’ or not. Keep reading The Best Text Classification IAB Taxonomy API For Worldwide Companies; we will tell you about it and we will share with you Text Classification IAB Taxonomy; a tool that will allow you to apply taxonomy in a simple and threadbare way.
So, its implementation is expected to create security for investors, protect private investors from greenwashing, help companies plan for the transition to a low-carbon economy, mitigate market fragmentation, and ultimately help shift investments where they are. more is needed. In short, the Taxonomy is a key piece to increasing sustainable investments and applying the European Green Deal.
Thus, after several years of development, the Taxonomy is quite large and complex and is not yet fully finalized. Even so, its bases and operation have already been clearly established, and companies and organizations are showing interest and attention in the face of its coming into force.
Who and when should report based on the Taxonomy?
The Taxonomy Regulation establishes three groups of users of the Taxonomy:
1. Financial market participants offering financial products in the EU, including providers of retirement pensions.
2. Large companies that are already required to file a non-financial statement under the Non-Financial Information Directive.
3. The EU and the Member States, by establishing public measures, standards, or labels for green financial products or green (corporate) bonds.
In the case of participants in financial markets, they will have to complete their first reports with respect to the Taxonomy, covering activities that substantially contribute to two of their environmental objectives, such as mitigation and/or adaptation to climate change.
Besides, for their part, companies had to report in the first quarter of 2022 on their activities related to climate change mitigation and adaptation, and an expanded set of information will be required by the end of that year to cover activities that contribute substantially to the six goals. environmental.
The technical selection criteria for activities that contribute substantially to water, the circular economy, the prevention and control of pollution, and the protection of ecosystems will be published by the end of 2021 and will be added to the criteria related to mitigation and/or adaptation to climate change already mentioned.
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The Content Taxonomy has evolved over time to provide publishers with a consistent and easy way to organize their website content. For example, to differentiate “sports” vs. “news” vs. “wellness” material. Text Classification IAB Taxonomy specification provides additional utility for minimizing the risk that content categorization signals could generate sensitive data points about some things. Some examples are race, politics, religion, or other personal characteristics that could result in discrimination.
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