We provided an in-depth analysis commissioned by the Lithuanian Banking Association for the banks seeking to classify loans as aligned with the EU Taxonomy Regulation and contributing to climate change mitigation. Compliance with the EU Taxonomy is one of the conditions for green financing.
We assessed ten types of economic activities, including electricity generation from wind and solar energy, cogeneration using bioenergy, freight road transport services, renovation of existing buildings, and construction of new buildings. For each activity, we prepared an analysis outlining the criteria to be assessed to determine whether a loan meets the requirements of the EU Taxonomy Regulation and underlying legal acts.
In addition, we prepared two memoranda outlining regulatory improvements necessary to ensure that multi-apartment building renovation projects can qualify under the EU Taxonomy, and on the application of minimum social safeguards when assessing corporate clients.
Our services and team
The Sorainen team was led by counsel Vitalija Impolevičienė and included partners Augustas Klezys, Asta Augutytė-Rapkevičienė and Indrė Ščeponienė, as well as counsels Andrius Šimkus, Aurelija Daubaraitė, Darius Raulušaitis, and Irma Kunickė, senior associates Julija Kirkilienė and Julius Raškauskas, associates Nojus Jašmontas, Auridas Litvinas, and Izabelė Šekaitė, as well as assistant lawyer Povilas Plikūnas.
