Norwegian stakeholder's attitudes towards EU taxonomy

Abstract

Purpose The European Union (EU) aims to become climate-neutral by 2050. Achieving this requires targeted measures and strategies. One of the instruments of the EU is the EU taxonomy, a classification system with the purpose of creating a common definition of what economic activities are deemed sustainable. The paper aims to examine how the EU taxonomy can affect the Norwegian construction industry, property owners and facilities management (FM) providers. Design/methodology/approach The research is based on a document analysis and interviews with main stakeholders within the financial sector, construction and real estate (RE) sector, authorities, environmental organisations and businesses related to FM and RE. Findings The findings show that different stakeholders share largely similar attitudes towards the taxonomy, although some differ in their opinions. This paper finds that there are high levels of uncertainty and confusion associated with the taxonomy, which can be said to be a major obstacle for successful implementation. Several stakeholders show concerns related to the fact that Norway lacks definitions and regulations on which the taxonomy is based. The requirements for new buildings and existing buildings are considered stricter than the current practice in the Norwegian construction and RE industry, while the requirements for renovation are considered more achievable. The uptake of the EU taxonomy will impact the FM and the urban FM practices and standards for the procurement of services, and the integration of environmental, social and governance (ESG) policies must be developed. Research limitations/implications The research presented in this paper was conducted at a time when the EU taxonomy was a relatively unknown concept in the Norwegian construction and RE industry. FM providers were not interviewed in this study. Practical implications This research is one of the first studies to be conducted on this topic in Norway and represents the first meeting between the EU taxonomy and the industry. The discussion underpins the relevance of adjusting and updating FM standards to today’s knowledge about ESG principles. Originality/value The paper shows the viewpoint of the Norwegian stakeholders involved in the construction and RE industry. This gives valuable information about the challenges that the industry needs to overcome.