Sitowise taxonomy evaluation and reporting

Since 2021, Sitowise has been reporting on the compliance of its economic activities with the EU Taxonomy. Over the years, the regulations and legal requirements affecting reporting have developed and increased significantly. In 2024, Sitowise evaluated the taxonomy eligibility and alignment of its activities in relation to all six environmental objectives. Additionally, in 2024, efforts were made to define the evaluation and reporting process and document its progress to increase transparency, also for the assurance of sustainability statement.

For the 2024 reporting year, the internal process at Sitowise commenced in the summer of 2024. 

Service products had already been identified during previous reporting years, so the 2024 reporting was approached through a round of interviews with business segment leaders, as well as assessments of changes affecting service products, such as acquisitions, and evaluations of the revenue shares of service products. After collecting the data, the work proceeded to the evaluation of the taxonomy eligibility and alignment of the service products, and to the calculation of key performance indicators – turnover, capital expenditures, and operational expenditures.

The reporting required in-depth understanding of legislation and, towards the end of the reporting process, close cooperation with the assurance. Progress was regularly discussed in the project steering group, which included representatives from Sitowise's project team as well as the company's sustainability and finance functions. Identifying service products and conducting assessments for each service product is a challenging task, especially for a company initiating taxonomy reporting. The evaluation requires annual review and consideration of legislative changes. 

The new reporting year is already well underway, and Sitowise's taxonomy work continues, taking into account legal requirements and potential changes, while keeping processes and results transparent and well documented.

Read more about the reporting here.