The EU has defined 6 environmental objectives as the foundation to the EU Green Deal:

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1) Climate change mitigation

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2) Climate change adaptation

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3) The sustainable use and protection of water and marine resources

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4) The transition to a circular economy

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5) Pollution prevention and control

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6) The protection and restoration of biodiversity and ecosystems

For each economic activity, the EU Taxonomy lists a series of technical criteria to prove that the activity substantially contributes to the six objectives, or does not significantly harm them.

Currently, the Taxonomy only defines Substantial Contribution and Do No Significant Harm criteria for two of the six objectives: Climate change mitigation and Climate change adaptation.

The Delegated Act which will lay out the criteria for the remaining four objectives will enter into force as of January 2023.