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EU green finance advisors asked to clarify ‘transition’ to net-zero climate goal

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Image by NakNakNak from Pixabay

Author: Frédéric Simon


The European Commission has asked advisors to rework the EU’s green finance taxonomy rules after member states rejected draft implementing guidelines, unhappy about the exclusion of gas as a “transition” activity towards net-zero emissions.


“On Wednesday, 20 January, we requested the Platform on Sustainable Finance to provide further input on the taxonomy framework,” said Aikaterini Apostola, an EU Commission spokesperson.


“They will provide this input by mid-March,” she told EURACTIV in emailed comments, explaining that the idea is to examine how the taxonomy “could facilitate all companies to transition toward improving their environmental performance.”


The exact date of publication of the new draft rules is still unclear but EURACTIV understands it is unlikely to happen before the end of March or early April.


The EU executive published its draft implementing rules – or delegated acts in EU jargon – on 20 November, touting the proposal as “the world’s first ‘green-list’” of economic activities that could drive billions of euros of private investments into the green economy.


The draft list defines CO2 emissions thresholds for a wide range of energy and climate mitigation technologies – from electric cars to building insulation materials – effectively defining what is “sustainable” and what is not.


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