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C8 – Revenues from certain sectors and exclusion from EU reference benchmarks

🗂️ VSME Comprehensive Module – Governance Metrics, page 14

  1. If the undertaking is active in one or more of the following sectors, it shall disclose its related revenues in the sector(s):

(a) controversial weapons (anti-personnel mines, cluster munitions, chemical weapons and biological weapons);

(b) the cultivation and production of tobacco;

(c) fossil fuel (coal, oil and gas) sector (i.e. the undertaking derives revenues from exploration, mining, extraction, production, processing, storage, refining or distribution, including transportation, storage and trade, of fossil fuels as defined in Article 2, point (62), of Regulation (EU) 2018/1999 of the European Parliament and the Council 17), including a disaggregation of revenues derived from coal, oil and gas; or

(d) chemicals production if the undertaking is a manufacturer of pesticides and other agrochemical products.

  1. The undertaking shall disclose whether it is excluded from any EU reference benchmarks that are aligned with the Paris Agreement as described in paragraph 241 of the guidance.

🗂️ VSME Comprehensive Module Guidance – Business Conduct Metrics, page 47-48

  1. Fossil fuels, as defined in Article 2(62), of Regulation (EU) 2018/1999 of the European Parliament and the Council, are non-renewable carbon-based energy sources such as solid fuels, natural gas and oil.

  2. The production of chemicals refers to the activities listed under Division 20.2 of Annex I to Regulation (EC) No 1893/2006, i.e. the manufacturing of pesticides and other agrochemical products.

  3. As defined by Article 12.1 and 12.2 of the Commission Delegated Regulation (EU) 2020/1818, the companies excluded from EU Paris-aligned Benchmarks are the following:

(a) companies that derive 1% or more of their revenues from exploration, mining, extraction, distribution or refining of hard coal and lignite;

(b) companies that derive 10% or more of their revenues from the exploration, extraction, distribution or refining of oil fuels;

(c) companies that derive 50% or more of their revenues from the exploration, extraction, manufacturing or distribution of gaseous fuels; and

(d) companies that derive 50% or more of their revenues from electricity generation with a GHG intensity of more than 100 g CO2 e/kWh.