This character is a Other Symbol and is commonly used, that is, in no specific script.
The glyph is not a composition. Its East Asian Width is wide. In bidirectional text it acts as Other Neutral. When changing direction it is not mirrored. U+1F4C5 offers a line break opportunity at its position, except in some numeric contexts.
The CLDR project calls this character “calendar” for use in screen reading software. It assigns these additional labels, e.g. for search in emoji pickers: date.
This character is designated as an emoji. It will be rendered as colorful emoji on conforming platforms. To reduce it to a monochrome character, you can combine it with Variation Selector-15: 📅︎ See the Emojipedia for more details on this character’s emoji properties.
The Wikipedia has the following information about this codepoint:
A calendar is a system of organizing days. This is done by giving names to periods of time, typically days, weeks, months and years. A date is the designation of a single and specific day within such a system. A calendar is also a physical record (often paper) of such a system. A calendar can also mean a list of planned events, such as a court calendar, or a partly or fully chronological list of documents, such as a calendar of wills.
Periods in a calendar (such as years and months) are usually, though not necessarily, synchronized with the cycle of the sun or the moon. The most common type of pre-modern calendar was the lunisolar calendar, a lunar calendar that occasionally adds one intercalary month to remain synchronized with the solar year over the long term.