Locations / Sites

EU Taxonomy

Goals for 2022

  • Perform EU Taxonomy eligibility assessment 2022 (same as 2021)
  • Perform EU Taxonomy alignment assessment 2022
  • Continue organisational roll-out

Key Achievements of 2022

  • Eligibility assessment updated and completed for 2022
  • Evaluation of technical screening criteria for Borealis’ activities (alignment assessment) completed
  • Climate and vulnerability assessment completed for all Borealis locations
  • Detailed information sessions held with local and central Health, Safety and Environment, Finance and Sustainability departments
  • Executive Board workshop conducted to discuss key levers of Borealis’ taxonomy alignment and understand impact of execution of the Strategy 2030


As part of the European Commission’s Sustainable Growth Financing Action Plan, Regulation (EU) 2020/852 establishing an EU classification system for ecologically sustainable economic activities (EU Taxonomy) came into force on 12 July 2020. The EU Taxonomy is a key instrument for the European Union to redirect capital flows towards sustainable investments and to create transparency. It encourages increased channelling of investments by companies, investors and policymakers to where they are most needed for sustainable development. Therefore, the EU Taxonomy Regulation will play an important role in scaling up sustainable investments and implementing the European Green Deal. 1)

Within Article 3, the EU Taxonomy Regulation 2020/852 sets out four conditions that an economic activity has to meet in order to qualify as environmentally sustainable. These require that the activity: 2)

  • contributes substantially to one or more of the environmental objectives set out in Article 9 in accordance with Articles 10 to 16;
  • does not significantly harm (DNSH) any of the environmental objectives set out in Article 9 in accordance with Article 17;
  • is carried out in compliance with the minimum safeguards laid down in Article 18; and
  • complies with technical screening criteria that have been established by the Commission in accordance with Article 10 (3), 11(3), 12(2), 13(2), 14(2) or 15(2).

The six environmental objectives specified within Article 9 of the regulation are: 3)

  • climate change mitigation;
  • climate change adaptation;
  • the sustainable use and protection of water and marine resources;
  • the transition to a circular economy;
  • pollution prevention and control; and
  • the protection and restoration of biodiversity and ecosystems.

The Commission Delegated Regulation (EU) 2021/2139 of 4 June 2021 supplements regulation (EU) 2020/852 by establishing the technical screening criteria for determining the conditions under which an economic activity qualifies as contributing substantially to climate change mitigation or climate change adaptation. Furthermore, it determines whether that economic activity causes no significant harm to any of the other environmental objectives.4) At the time of writing this chapter, the EU Commission has not yet defined the four environmental objectives c) to f) listed above.

The minimum safeguards stated in point c) of Article 3 of the EU Taxonomy Regulation have been implemented following a request from the European Parliament. These safeguards shall ensure that entities which are carrying out environmentally sustainable activities, which are labelled as “taxonomy-aligned”, meet certain minimum governance standards and do not violate social norms, including human rights and labour rights, as laid out in Article 18. 5)

1) See: EU Taxonomy for sustainable activities | European Commission (europa.eu) // 2) See: Regulation (EU) 2020/852 // 3) See: Regulation (EU) 2020/852 // 4) See: Regulation (EU) 2021/2139 // 5) See: Final Report on Minimum Safeguards (europa.eu)

Environmental goal – climate change mitigation

For more details, please refer to the full Combined Annual Report 2022.

Combined Annual Report 2022 (PDF)

English and German Version available

Download full version

This online report contains only highlights and excerpts from Borealis’ Combined Annual Report 2022. Only the entire report is legally binding and it must be read in full to gain a comprehensive understanding of Borealis’ performance and activities in 2022. A copy of the Combined Annual Report 2022 can be downloaded here.