A systematic literature review presents the impacts of the Taxonomy in the area of corporate reporting, as well as the economic impacts at the firm level, the EU level, and the global level.
Abstract: The emphasis on implementing sustainable development principles and the pressure of climate change have led to the design of new policy instruments at the EU level. The Green Deal involves the introduction of an EU Taxonomy to classify individual activities across sectors concerning their sustainability impacts. This paper aims to evaluate the extent to which the literature has studied its impacts on businesses and the economy. Specifically, scientific literature published in English on WoS, Scopus, and Google Scholar that studied impacts on reporting standards, the value of individual companies, macro impacts on markets, and global impacts are the subjects of this paper. A systematic review yielded 41 relevant articles published between 2019 and the end of 2024. The results indicated that the fear of a potential decline in competitiveness is the most frequently mentioned impact. Significant attention is also paid to banks, which are the primary institutions implementing the EU Taxonomy. Overall, the economic impacts of the EU Taxonomy remain understudied.
Citation: Brabec, J., Macháč, J. (2025). Impacts of the EU Taxonomy implementation: a systematic literature review. Climate Policy, 1–13. https://doi.org/10.1080/14693062.2025.2526683
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