EU Taxonomy
Introduction
Höegh Autoliners assesses its business activities against the EU Taxonomy Regulation (EU) 2020/852 and the applicable Climate and Environmental Delegated Acts. The Taxonomy defines environmentally sustainable activities across six environmental objectives and requires disclosures on eligibility, alignment, substantial contribution, Do No Significant Harm (DNSH), and Minimum Social Safeguards (MSS).
Höegh Autoliners applies the simplified rule‑set for 2025, ref the European Commission’s adoption of the Delegated Act simplifying Taxonomy reporting published in the Official Journal on 8 January 2026, entering into force 28 January 2026, with retrospective application to 2025.
Summary KPIs
The tables below follows the simplified summary KPI template introduced for the 2025 financial year reporting:
Summary Höegh's EU Taxonomy KPIs
| KPI | Total | Proportion of Taxonomy-eligible activities | Taxonomy-aligned activities | Proportion of Taxonomy-aligned activities | Breakdown by environmental objectives of Taxonomy-aligned activities | Proportion of enabling activities | Proportion of transitional activities | Not assessed actvities considered non-material | Taxonomy aligned activities in previous financial year | Proportion of Taxonomy-aligned activities in previous financial year | |||||
| Climate Change Mitigation | Climate Change Adaption | Water | Circular Economy | Pollution | Biodiversity | ||||||||||
| USDm | % | USDm | % | % | % | % | % | % | % | % | % | % | USDm | % | |
| Turnover | 1 425.5 | 100.0 | 260.3 | 18.3 | 18.3 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 18.3 | 0.0 | 31.0 | 2.3 |
| CapEx1 | 281.1 | 99.2 | 247.0 | 87.9 | 87.9 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 87.9 | 0.8 | 395.0 | 92.4 |
| OpEx | 105.7 | 13.0 | 6.6 | 6.3 | 6.3 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.3 | 0.0 | 1.0 | 3.1 |
| 1 Eligible CapEx reconciles to Note 7 to the Financial Statements as follows: Total Additions of 284.1 minus Additions to Equipment related to other assets(0.8), Right of use assets related to rented premises (1.4), and Additions to newbuildings and projects related to IT equipment (0.9) | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Taxonomy-eligible economic activities
Taxonomy-eligible activities are defined by the EU Taxonomy as activities that can positively contribute to any of the environmental objectives set out by the European Union. There are no changes to our reporting scope for 2025. Our core business, being sea and coastal freight water transport (PCTC), including chartering and operating vessels designed for vehicles and high & heavy cargo, is classified as Taxonomy‑eligible under economic activity 6.10 – Sea and coastal freight water transport, vessels for port operations and auxiliary activities, in the EU Delegated Regulation 2021/2139.
Taxonomy-aligned economic activities
Taxonomy-aligned activities are those that meet the technical screening criteria defined by the EU Taxonomy:
1. Having a “substantial contribution” to at least one of the six environmental objectives.
2. DNSH to any of the remaining five environmental objectives.
3. Complying with “Minimum Social Safeguards.”
1. Substantial contribution for “climate change mitigation”
The assessment focused on evaluating the EEDI for each vessel. Höegh Autoliners concludes that seven vessels meet the EEDI requirements set out in both criterion 1(d) (applicable until 31 December 2025) and criterion 1(e) (applicable from 1 January 2026).
As a result, these vessels satisfy the substantial contribution requirements for Climate Change Mitigation for the full period covered by the EU Taxonomy, including after 1 January 2026, as they comply with both sets of criteria.
2. Do No Significant Harm
In addition to the substantial contribution assessment, we have assessed and documented the same eligible economic activity (6.10) against the DNSH criteria. This includes criteria related to the remaining five environmental objectives: climate change adaptation, sustainable use and protection of water and marine resources, transition to a circular economy, pollution prevention and control, and protection and restoration of biodiversity and ecosystems.
Based on the assessment, Höegh Autoliners concludes that it meets the DNSH criteria.
3. Minimum Social Safeguards
Finally, we have also evaluated our procedures and measures related to human rights, anti-corruption and bribery, taxation, and fair competition against the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights.
Our approach to MSS is an integrated part of our responsible business practices and our human rights risk assessment is updated annually. We ensure compliance with the minimum social safeguards outlined in the EU Taxonomy by having established robust governance practices supported by our policies.
In 2025, we have not registered any breaches or incidents related to human rights, corruption, tax evasion, or fair competition.
For more details on the assessments, please refer to the Accounting Policies – EU Taxonomy .
Performance Measures
Turnover: Proportion of revenue from products or services associated with taxonomy-aligned activities 2025
| Economic Activities | Code | Taxonomy-eligible KPI (Proportion of Taxonomy-eligible Turnover) | Taxonomy-aligned KPI (monetary value of Turnover) | Taxonomy-aligned KPI (Proportion of Taxonomy-aligned Turnover) | Environmental objectives of Taxonomy-aligned activities | Enabling activity | Transitional activity | Proportion of Taxonomy-aligned in Taxonomy eligible | ||||||||
| Climate Change Mitigation | Climate Change Adaption | Water | Circular Economy | Pollution | Biodiversity | |||||||||||
| % | USDm | % | % | % | % | % | % | % | E | T | % | |||||
| Sea and coastal freight water transport, vessels for port operations, and auxiliary activities | CCM 6.10 | 100.0 | 260.3 | 18.3 | 18.3 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | T | 18.3 | ||||
| Sum of alignment per objective | 100.0 | 260.3 | 18.3 | 18.3 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 18.3 | ||||||
| Total Turnover | 100.0 | 260.3 | 18.3 | 18.3 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 18.3 | ||||||
CapEx: Proportion of revenue from products or services associated with taxonomy-aligned activities 2025
| Economic Activities | Code | Taxonomy-eligible KPI (Proportion of Taxonomy-eligible CapEx) | Taxonomy-aligned KPI (monetary value of CapEx) | Taxonomy-aligned KPI (Proportion of Taxonomy-aligned CapEx) | Environmental objectives of Taxonomy-aligned activities | Enabling activity | Transitional activity | Proportion of Taxonomy-aligned in Taxonomy eligible | ||||||||
| Climate Change Mitigation | Climate Change Adaption | Water | Circular Economy | Pollution | Biodiversity | |||||||||||
| % | USDm | % | % | % | % | % | % | % | E | T | % | |||||
| Sea and coastal freight water transport, vessels for port operations, and auxiliary activities | CCM 6.10 | 99.2 | 247.0 | 87.9 | 87.9 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | T | 88.6% | ||||
| Sum of alignment per objective | 99.2 | 247.0 | 87.9 | 87.9 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 88.6% | ||||||
| Total CapEx | 99.2 | 247.0 | 87.9 | 87.9 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 88.6% | ||||||
OpEx: Proportion of revenue from products or services associated with taxonomy-aligned activities 2025
| Economic Activities | Code | Taxonomy-eligible KPI (Proportion of Taxonomy-eligible OpEx) | Taxonomy-aligned KPI (monetary value of OpEx) | Taxonomy-aligned KPI (Proportion of Taxonomy-aligned OpEx) | Environmental objectives of Taxonomy-aligned activities | Enabling activity | Transitional activity | Proportion of Taxonomy-aligned in Taxonomy eligible | ||||||||
| Climate Change Mitigation | Climate Change Adaption | Water | Circular Economy | Pollution | Biodiversity | |||||||||||
| % | USDm | % | % | % | % | % | % | % | E | T | % | |||||
| Sea and coastal freight water transport, vessels for port operations, and auxiliary activities | CCM 6.10 | 13.0 | 6.6 | 6.3 | 6.3 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | T | 48.3 | ||||
| Sum of alignment per objective | 13.0 | 6.6 | 6.3 | 6.3 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 48.3 | ||||||
| Total OpEx | 13.0 | 6.6 | 6.3 | 6.3 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 48.3 | ||||||
Accounting Policies – EU Taxonomy
Definitions
Höegh Autoliners’ report on EU Taxonomy is based on the financial statements.
Taxonomy-eligible activities are defined by the EU Taxonomy as those activities that have a potential to contribute to one or more of the six environmental objectives.
To determine the taxonomy-eligible economic activities, Höegh Autoliners followed the steps:
- Perform a high-level screening of its activities, considering the activities that represents key aspects of Höegh Autoliners’ operations.
- Evaluate if the economic activities identified are described by the EU Taxonomy Climate Delegated Act (EU) 2021/2139.
Höegh Autoliners operates within the shipping sector, specializing in the PCTC segment. The company charters and operates vessels specifically designed and equipped for the transportation of cars and other equipment across sea and coastal waters globally. Consequently, the economic activity eligible for taxonomy-eligible KPIs for Höegh Autoliners includes:
- (6.10) – Sea and coastal freight water transport, vessels for port operations and auxiliary activities, such as tugboats, mooring vessels, pilot vessels, salvage vessels and ice-breakers.
In addition, ‘Retrofitting of sea coastal freight and passenger water transport (6.12)’ have been considered for eligibility. According to the EU Taxonomy, Höegh Autoliners interprets “retrofit” as modifying and upgrading vessels in a way that provides a comprehensive improvement in overall performance and energy efficiency. Measures such as installing more efficient propellers, propeller boss cap fins, or carrying out engine tunings and deratings are therefore not considered retrofits under this definition. Larger modifications to the hull or engines – such as enabling operation on alternative fuels – would be more consistent with activity 6.12, while the efficiency measures currently undertaken fall under activity 6.10. Consequently, economic activity 6.12 is excluded from the eligibility assessment.
Finally, ‘Acquisition and ownership of buildings (7.7)’ was also assessed for eligibility, however, it fell below the materiality threshold and was therefore deemed immaterial for reporting purposes.
The numerators and denominators in our taxonomy-eligible KPIs are based on reported financial numbers and are defined and calculated as described below:
- Taxonomy-eligible-Revenue = eligible revenue/ total revenue. Total revenue is stated in Note 2 – total revenues, which includes IFRS 15 revenues – net freight revenues, other surchargers, and time charter income, and excluding terminal related income.
- Taxonomy-eligible-CapEx = eligible CapEx/ total CapEx. Total CapEx refers to capitalised additions as stated in Note 7 – vessels, newbuildings, equipment and right-of-use-assets which include additions to vessels, newbuildings, equipment and leased assets, excluding leases not leading to a recognition of a right-of-used asset.
- Taxonomy-eligible-OpEx = eligible OpEx/ total OpEx. Total OpEx includes expenses related to maintenance, repairs, and short-term leases related to both eligible and non-eligible assets.
Höegh Autoliners process to identify taxonomy-aligned economic activities was evaluating its eligible-activities against the following criteria:
- Meet the Technical Screening Criteria, ‘substantial contribution’ to at least one of the six environmental objectives.
- Comply with the ‘DNSH’ criteria for the remaining five environmental objectives.
- Meet the ‘Minimum Social Safeguards’ concerning human rights, anti-corruption and bribery, taxation, and fair competition.
Economic activities that meet all the established criteria are assessed as taxonomy-aligned. If the eligible economic activities fail to meet the criteria, they are classified as eligible but not taxonomy-aligned.
For the current reporting year, Höegh Autoliners was able to report aligned KPIs. The rationale is described below.
Aligned revenue KPI is calculated as follows:
- Taxonomy-aligned revenue = Aligned revenue/ total revenue.
The numerator includes revenues generated by Höegh Autoliners’ aligned vessels during the current reporting year. The denominator represents total revenue. Refer to Note 2 – total revenues IFRS 15.
Aligned CapEx KPI is calculated as follows:
- Taxonomy-aligned CapEx KPI = aligned CapEx/ total CapEx.
The numerator represents the proportion of CapEx additions to existing aligned vessels and the capitalization of instalments and other related CapEx for the near zero-carbon ready Aurora class newbuilding program during the year.
The denominator includes additions to vessels, newbuildings, equipment, and right-of-use assets, excluding leases that do not lead to the recognition of a right-of-use asset. Refer to Note 7 – Vessels, newbuildings, equipment, and right-of-use assets.
Aligned OpEx KPI is calculated as follows:
- Taxonomy-aligned OpEx KPI = aligned OpEx/ total OpEx.
The numerator represents the proportion of OpEX (as defined by the Taxonomy) related to maintenance, repairs and short-term leases associated to aligned vessels in 2025.
The denominator includes the total OpEX (as defined by the Taxonomy) related to maintenance and repairs, and short-term leases.
1. Substantial contribution
We have assessed and documented compliance with ‘substantial contribution’ criteria for the eligible activity in scope for Höegh Autoliners (6.10) under Climate Change Mitigation objective.
Climate change mitigation
Höegh Autoliners’ taxonomy‑eligible activity falls under the EU Taxonomy objective of Climate Change Mitigation. We assessed our eligible economic activity 6.10 against substantial contribution criterion 1(d) – which applies to low‑emission vessels where zero‑emission operation is not yet feasible until 31 December 2025, and 1(e) which is applicable from 1 January 2026.
This criterion requires vessels to achieve an EEDI at least 10% better than the requirement effective from 1 April 2022 and to be capable of operating on zero‑direct‑emission or renewable fuels.
Based on this assessment, seven vessels in our fleet as of 31 December 2025 meet the substantial contribution requirements.
2. Do no significant harm (DNSH)
Climate change adaptation
Höegh Autoliners has conducted and documented a qualitative assessment of its business resilience against various physical climate-related risks. The analysis indicates that, in the longer term, physical climate-related risks such as weather and water-related hazards could negatively impact vessel operations. Corresponding mitigation actions (adaptation solutions) have been identified to mitigate these risks.
The assessment concludes that the assets used in our shipping services will withstand potential long-term physical climate-related risks and comply with the criteria set out in consolidated delegated act 2021/2139.
Sustainable use and protection of water and marine resources
Höegh Autoliners has screened its activities for potential impacts on water and marine resources. Our core activity does not involve significant water use, aside from utilizing the ocean for our services. Consequently, no risks related to water stress and water availability have been identified. Fresh water is not a material input source for our vessel operations. Environmental degradation risks are closely linked to pollution and biodiversity impacts and are addressed in the respective DNSH discussions (DNSH 5 and DNSH 6).
It is concluded that the eligible activity complies with the criteria set out in consolidated delegated act 2021/2139.
Transition to a circular economy
Höegh Autoliners has evaluated and documented its activities against potential impacts on transition to a circular economy. Our approach to waste management, handling of hazardous materials and ship recycling involves several initiatives such as implementing comprehensive actions and procedures tailored to our vessel operations, in accordance with the International Maritime Organization’s (IMO) regulations, which we are required to meet.
This includes promoting waste prevention and proper disposal; manage and monitor the Inventory of Hazardous Materials (IHM) and ensure compliance with its Green Recycling Standard. The assessment led to a conclusion that the eligible activity complies with the criteria set out in consolidated delegated act 2021/2139.
Pollution prevention and control
Höegh Autoliners has thoroughly evaluated and documented its activities to prevent and control pollution. In compliance with IMO requirements, we have established procedures and measures to address the impacts of water and air pollution. Consequently, Höegh Autoliners’ operations meet the criteria set out in consolidated delegated act 2021/2139.
Protection and restoration of biodiversity and ecosystems
Höegh Autoliners has evaluated and documented its activities against the DNSH 6 criteria. In compliance with IMO regulations, we have established procedures to address the impacts related to the introduction of non-indigenous species via ballast water and biofouling. To reduce the impact of noise and vibration on ecosystems, we have implemented technical and operational measures. Our assessment concludes that these measures do not hinder the achievement of good environmental status.
This assessment confirms that Höegh Autoliners’ policies and initiatives effectively address the material impacts of our activities, ensuring compliance with the criteria set out in Consolidated Delegated Act 2021/2139.
3. Minimum Safeguards
Our activities are conducted in compliance with the minimum safeguards, in particular covering Human rights, corruption, taxation and fair competition.
Human rights
Höegh Autoliners’ commitment to human rights is embedded in its Human Rights Policy, Code of Conduct, and Supplier Code of Conduct. We engage with customers, suppliers, vendors, and partners to protect human rights across our operations. We conduct due diligence to identify, prevent, mitigate, and account for human rights impacts, establish reporting mechanisms, and evaluate risks in our upstream value chain.
In 2025 there were no incidents on human rights reported.
Corruption
Our anti-corruption policies include mandatory training, a whistleblower hotline, and requiring vendors, suppliers, and agents to sign our Supplier Code of Conduct.
In 2025 there were no convictions or fines for violations of anti-corruption laws.
Taxation
Höegh Autoliners adheres to its Taxation Policy and Code of Conduct, ensuring compliance with tax regulations and adopting transparent tax practices.
In 2025 there were no cases of tax evasion reported.
Fair competition
Fair competition: Fair competition is outlined in our Code of Conduct and Competition Law Compliance Manual. Mandatory training ensures employee awareness and compliance.
No violations of competition law were registered in 2025.
For further details on Höegh Autoliners’ approach to business conduct and responsible business practices, please refer to the ESRS G1 section of these Sustainability Statements.
