Investors' opinion on EU Taxonomy wanted: The European Sustainable Finance Survey 2022

The European Sustainable Finance Survey explores financial institutions’ use of the EU taxonomy. This year, the focus is on asset owners and asset managers. As in the past two years, the survey is implemented by adelphi on behalf of the German Federal Ministry for the Environment.


The European Sustainable Finance Survey (EUROSFS) aims to shed light on how financial market participants in the EU can make best use of the EU taxonomy for sustainable economic activities to foster a modern, resource-efficient and competitive economy. The EUROSFS intends to contribute to the effective application of the EU taxonomy by eliciting and widely communicating market participants’ views of the tool and ideas for overcoming apparent hurdles.

“This year’s survey is the last in a row of three annual surveys exploring different perspectives on the EU taxonomy. While the first two editions focused on large European companies and commercial banks (2020) and public financial institutions (2021), the third edition addresses further target groups of the EU taxonomy – asset owners (AO) and asset managers (AM)”, says Christian Metzler, consultant and finance expert at adelphi.

Questions for asset owners and asset managers

Focus is on institutions that have taxonomy-related disclosure duties – because they provide Article 8 or 9 financial products (Sustainable Finance Disclosure Regulation) and/or because they fall under the Non-Financial Reporting Directive. Through such disclosures – but also in many other ways – the taxonomy is expected to help shift capital flows towards greater sustainability.

Against this background, the EUROSFS 2022 aims to answer the following questions:

  • Where do AO/AM stand with regard to taxonomy-related disclosures?
  • (How) Do AO/AM use the taxonomy to help achieve the EU’s sustainability-related goals?
  • Which challenges do AO/AM encounter when using the taxonomy?
  • How could challenges be overcome?

The final report

The final report will entail recommendations for financial market participants and policy makers and will be publicly launched and widely communicated in autumn 2022.

The questionnaire is open until 24th June 2022 and can be accessed here.

The European Sustainable Finance Survey (EUROSFS) was launched in 2020 by the German Ministry for the Environment, Nature Conservation, Nuclear Safety, and Consumer Protection and consists of three annual surveys conducted by adelphi and partner organisations in 2020-2022.

Contact: Annica Cochu & Christian Metzler