Sustainability Assessment Framework for Hungarian Energy Companies in the Context of European Taxonomy Regulation

The EU aims to reduce net emissions by at least 55% by 2030 from 1990 levels and become the first climate-neutral continent by 2050. The EU Taxonomy Regulation mandates large companies to disclose their sustainability activities in reports starting 2023. This study examines major Hungarian energy companies (MVM, E.ON, ALTEO, MOL), which represent over 80% of the national energy sector, assessing their sustainability through a framework that evaluates the reliability, accuracy, and clarity of their sustainability reports. It analyzes their key performance indicators (Turnover, CAPEX, OPEX) and sustainable activities as defined by EU Taxonomy. Findings suggest that mandatory sustainability reporting is vital for achieving EU targets, but additional indicators are necessary for enhanced accuracy and comparability.