EU taxonomy

The EU taxonomy of sustainable economic activities is a tool to help investors understand whether an economic activity is environmentally sustainable and consistent with high-level policy commitments such as the Paris Agreement.

To classify an activity as 'environmentally sustainable,' a distinction between taxonomy-eligibility and taxonomy-alignment is required. If an activity meets the description in the EU taxonomy delegated regulations, it is considered taxonomy-eligible. Activities can be considered “environmentally sustainable” if the following criteria are met (taxonomy-alignment):

  • Contribute substantially to at least one of six environmental objectives listed in the taxonomy; and

  • Do no significant harm to any of the other objectives while meeting the minimal social safeguards, aligning with the UN Guiding Principles and the OECD Guidelines.

The six environmental objectives of the taxonomy are: (1) climate change mitigation, (2) climate change adaptation, (3) sustainable use and protection of water and marine resources, (4) transition to a circular economy, (5) pollution prevention and control, and (6) protection and restoration of biodiversity and ecosystems.

The tables on the next pages disclose the eligibility and alignment of Corbion’s business activities with the EU taxonomy, which is determined in two steps:

Step 1: Eligibility assessment

The economic activities defined in the final Taxonomy Environmental Delegated Act were screened for applicability to Corbion, to determine which of Corbion’s business activities are eligible.

In the assessment we came to the conclusion that we produce products which fall under EU taxonomy categories that we had not previously reported. The new activities are related to the production of active pharmaceutical ingredients (PPC 1.1 Manufacture of active pharmaceutical ingredients (API) or active substances) and the production of polymers (CCM 3.17 Manufacture of plastics in primary form).

In previous years, Corbion has reported the manufacture of AlgaPrime DHA and the manufacture of lactic acid for the production of PLA bioplastics as eligible for Climate Change Mitigation under the activity number 3.6 Manufacture of other low carbon technologies because these Corbion solutions enable our customers to reduce their scope 3 emissions in their respective sectors. In 2024, we have reconsidered our position on eligibility and no longer claim any eligible activities. 

The Climate Delegated Act give the following definition for activity number 3.6 Manufacture of other low carbon technologies “Technologies which are aimed at substantial GHG emission reductions in other sectors of the economy, where those technologies are not covered in Sections 3.1 to 3.5 of this Annex."

During our EU Taxonomy reporting review, we reconsidered our position and concluded that the manufacture of AlgaPrime DHA and the manufacture of lactic acid for the production of PLA bioplastics do not meet this definition:

  • AlgaPrime DHA is primarily aimed at offering a source of omega-3 for animal and human nutrition, as an alternative to fish oil, reducing pressure on marine biodiversity. The lower carbon footprint compared to fish oil is an additional benefit, but not the aim of the technology.

  • Corbion produces lactic acid for many different applications. The primary aim of the manufacturing of lactic acid for PLA bioplastics, is to supply the TotalEnergies Corbion with the raw material for the production of PLA. As Corbion only acts as a raw material supplier, this activity in itself cannot be considered a low carbon technology.

We have therefore restated our 2023 numbers in the tables below.

Supporting activities under the Climate Delegated Act, such as the operation of waste water treatment facilities (5.1 CCM), construction of new buildings (CCM 7.1), acquisition and ownership of buildings (CCM 7.7 and renewable energy technologies on site (7.6) are included this year for the first time because of their materiality.

None of Corbion’s business activities are considered to be eligible for climate change adaptation, water, circular economy, and biodiversity.

Step 2: Alignment assessment

For our eligible activities (active pharmaceutical ingredients and polymers) we cannot yet claim alignment, as we do not meet the technical screening criteria for CCM 3.17 and PPC 1.1.

For the eligible supporting activities, we have not done the assessment on alignment as they are not material to our business, therefore we claim 0 alignment on these activities.

EU taxonomy versus SDGs

Compared to Corbion's SDG assessment, which determines the alignment of Corbion's activities with the UN Sustainable Development Goals, the EU taxonomy does not include the contribution of biobased chemicals and of food waste reduction to climate change mitigation and to the transition to a circular economy. The EU taxonomy also does not consider the contribution of solutions such as AlgaPrime DHA to the protection and restoration of biodiversity and ecosystems. Finally, the EU taxonomy currently focuses mainly on environmental objectives. Corbion's SDG assessment also considers social objectives, specifically activities that contribute to SDG 2 (Zero hunger) and SDG 3 (Good health and well-being).

Corbion does not engage in any Nuclear or Fossil Gas activities.