Study about the EU taxonomy regulation shows a movement towards increased data sharing
Policymakers are moving towards a more open view on data sharing which will enable new legislation. This is an important conclusion from a Mistra SafeChem study on the EU taxonomy regulation.
The report title is Challenges and opportunities with the EU Taxonomy Regulation – with focus on chemical safety and usage in complex products. The authors are Mistra SafeChem researchers Kristina Andersson, Anna-Karin Hellström and Jenny Lundahl, all from RISE Research Institutes of Sweden.
The study has used policy lab processes, which bridge the gap between the legislative domain responsible for developing regulatory frameworks and the innovative companies that create solutions for emerging markets using new technologies and opportunities.
“The EU taxonomy regulation is a serious effort”
These processes have been applied to the EU taxonomy regulation to identify challenges and opportunities related to chemical safety and usage for manufacturers of complex products.
– The EU taxonomy regulation represents a serious effort to establish standardized sustainability reporting within the EU. But it is still in its early stages and lacks maturity, comments Kristina Andersson.
Certain ambiguities within the regulation currently prevent a comprehensive comparison of companies due to the development of other legislations. Addressing these gaps depends on the future development of, for example, REACH.
– We conclude that the EU taxonomy regulation is part of a larger movement that reflects the policymakers’ intentions. This includes increased data sharing at a significantly different level compared to current practices. This shift will enable authorities to access the data and develop new legislation, says Jenny Lundahl.
Traffic light scenarios might improve communication
The specific focus of the study is on the objective of pollution prevention and control regarding the use and presence of hazardous substances listed in appendix C of the EU taxonomy regulation.
To improve communication along the value chain and identify data gaps while protecting trade secrets, there is a proposal for a user-friendly interface based on traffic light scenarios. This would serve as a filter mechanism, allowing product manufacturers to establish specific criteria for material suppliers to respond to.