CHAPTER 6 Additional content

272

The EU Taxonomy Regulation is part of the European Commission's action plan to redirect capital flows towards the Sustainable Developments Goals and a carbon neutral economy by 2050, in order to create a more sustainable economy framework.

APPENDIX 6 EU TAXONOMY

It represents an important step towards achieving carbon neutrality by 2050 in line with EU goals as the Taxonomy is a classification system for environmentally sustainable economic activities.

Taxonomy-eligible economic activity means an economic activity that is described in the delegated acts (Annex I and II of the Com- mission Delegated regulation (EU) 2021/2139 of 4 June 2021, hereinafter Climate Delegated Act ) supplementing the Taxonomy Regulation irrespective of whether that economic activity meets any or all of the technical screening criteria laid down in those delegated acts.

Taxonomy-non-eligible economic activity means any economic activity that is not described in the delegated acts supplementing the Taxonomy Regulation.

Taxonomy-aligned economic activity means an economic activity that complies with all of the following requirements:

· The economic activity contributes substantially to one or more of the environmental objectives. · It does not significantly harm any of the environmental objectives. · It is carried out in compliance with the minimum safeguards.. · It complies with technical screening criteria in the delegated acts supplementing the Taxonomy Regulation.

As a central part of our strategy, we are moving forward to turn into a key actor on the energy transition, as well as diversifying our products and services developing new business lines. Therefore, the EU Taxonomy provides us a common framework to measure our transformation and our capacity to substantially contribute to accomplish environmental objectives, not only in Europe but also in all countries where we operate.

TAXONOMY-ELIGIBLE ECONOMIC ACTIVITIES

Whilst reporting on EU Taxonomy data is not mandatory for Cepsa according to Taxonomy Regulation EU 2020/852 and Delegated Regulation (EU) 2021/2178, we have examined the relevant Taxonomy-eligible economic activities, in conformity with Annex I and II of the Climate Delegated Act , and we have pre-identified the activities that could be eligible for Cepsa. As part of our commitment to transparency, we have consulted with external experts, revised eligibility criteria with our auditor and set up a multidisciplinary team in order to report in 2022 Integrated Management Report.