The EU taxonomy contains criteria for which corporate activities are to be considered sustainable or contribute to the achievement of individual environmental goals. The criteria and environmental objectives also include adaptation to the impacts of climate change. Companies subject to reporting requirements under the EU Taxonomy are thereby required to demonstrate the extent to which their activities contribute to adaptation to climate change - both within the company and, in some cases, beyond it. To this end, the EU Taxonomy requires companies to conduct climate risk and vulnerability analyses that demonstrate that the respective company activity is indeed "climate-adapted" or climate-resilient. The Taxonomy Regulation contains extensive specifications on how to conduct these analyses.
This handout explains how a climate risk analysis can be implemented within the framework of these requirements in a legally secure manner and as target-oriented a manner as possible. In preparing this publication, the project team took into account the opinions of auditors on the interpretation of the legal text, among other voices. The publication is currently available in draft form. The final version will be published at the end of 2022.