Leaseurope, the European Federation of leasing company associations, has established a task force to explore how leasing fits with corporate reporting on the environment in the EU.

Recent EU legislation prompting a green agenda developed a classification system, or Taxonomy, to allow businesses to identify “environmentally sustainable” economic activities related to reducing greenhouse gas emissions, preserving biodiversity or transitioning to a circular economy.

Leaseurope, which represents the interests of the equipment and automotive rental industries across Europe, said the task force will publish a report with recommendations about taxonomy reporting on leasing services and asset classifications that contribute to environmental objectives under the EU Taxonomy regime.

The task force will report to the Leaseurope Legal Affairs Committee.

Stella Mitta, Senior Legal & Policy Adviser for Leaseurope, said that leasing companies have some specific challenges when applying the Taxonomy Regulation, particularly in determining what constitutes a ‘green asset’ and how to assess the taxonomy eligibility and alignment of leasing activities.

The goal of taxonomy reporting obligations is to promote transparency and accountability in business practices and to encourage companies to adopt more sustainable practices, she said.

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“By providing members guidance and support on sustainability reporting and taxonomy, Leaseurope is helping to ensure that the leasing industry remains relevant and competitive in a rapidly changing business landscape but also enables a more sustainable world,” Mitta added.

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