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.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

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.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“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.

European bank results to normalise after strong 1Q 2023: Fitch