NGOS EXPRESS TAXONOMY CONCERNS: Fifty NGOs today will outline their 10 top concerns on the European Commission’s proposed draft taxonomy to determine sustainable investments. The list outlining green projects was published in June, but needs to be strengthened, according to the NGOs.
They say that criteria for bioenergy — burning wood or crops for heat or power — forestry and hydropower should be tightened; livestock breeding (except for organic livestock), biofuels for transport, and fossil fuel vehicles and ships should be excluded from the list; and finally nuclear power, fossil fuel generation and waste incineration — which were excluded by experts — should be left out, despite a strong industry push to categorize nuclear as green. The draft taxonomy is a “proper framework for a science-based taxonomy … Alarmingly, conservative lobbies like gas and nuclear are trying to weaken this work. We must make sure they fail,” said Sébastien Godinot, WWF Europe’s economist.
Nuclear pushback: That’s not sitting well with the nuclear lobby Foratom. It argues that excluding nuclear “is in total contradiction with EU climate policy.” Nuclear power was excluded from the taxonomy list because it creates environmentally toxic waste — but the industry says that this criteria was applied arbitrarily. “For other technologies, however, the waste criteria do not appear to have been applied in the same way ([for example] power producing technologies which generate toxic waste at the end of their useful life),” Foratom writes, calling on the Commission to review the list and include nuclear.
HENRY EVISTON | Sustainable Finance Policy Assistant |
WWF European Policy Office |
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