The Financial Supervisory Authority of Norway has incorporated supplementary rules under the EU Taxonomy Regulation into the regulation under Norway’s Sustainable Finance Act, bringing into Norwegian law a package of simplifications to taxonomy disclosures and technical screening criteria. The changes reduce reporting detail for entities subject to taxonomy reporting and allow both non-financial and financial undertakings not to assess taxonomy alignment where the relevant activities or exposures are not economically material. The EEA Committee decided on 30 April 2026 to incorporate Regulation (EU) 2026/73 into Annex IX of the EEA Agreement. That act amends the disclosure requirements in Regulation (EU) 2021/2178 and also changes Regulation (EU) 2021/2139 and Regulation (EU) 2023/2486, which set the technical screening criteria for the six environmental objectives. Among the changes are less detailed reporting templates with fewer data points. For non-financial undertakings, the materiality option applies to economic activities. For financial undertakings, it applies to exposures financing specific economic activities or counterparties’ assets. The amendments entered into force on 4 May 2026.
Norwegian Finanstilsynet 2026-05-04
Financial Supervisory Authority of Norway implements EU taxonomy reporting simplifications in Norwegian law
The Financial Supervisory Authority of Norway has incorporated supplementary rules under the European Union Taxonomy Regulation into the regulation under Norway’s Sustainable Finance Act, introducing simplifications to taxonomy disclosures and technical screening criteria. The amendments, which entered into force on 4 May 2026, reduce reporting detail through less granular templates and allow undertakings not to assess taxonomy alignment where relevant activities or exposures are not economically material.