NGOs demand changes to criteria for environmentally sustainable investments
Nearly 100 NGOs have signed a list of ten priorities for an effective and science-based EU taxonomy.
The 94 NGOs, which include WWF, 350.org, Transport & Environment and Climate Action Network Europe, ask for criteria suggested by the technical expert advisory group to the Commission (the TEG) to be tightened particularly for forestry, bioenergy and hydropower, where there is a risk of damaging practises being included as sustainable. For example on bioenergy, they ask for the European Commission to exclude tree trunks and stumps from being considered as ‘green’, since burning them for energy actually increases emissions compared to fossil fuels.
If done properly, the taxonomy should help end greenwashing in the finance sector by showing which investments are truly sustainable. The taxonomy can also play an even bigger role, helping the post-crisis EU economy become more resilient by guiding the EU’s green recovery spending.
Related Articles
View All
Press Release
EU long-term budget crunch: what to watch for at the EU leaders’ summit on 15-16 October
EU leaders will meet this week for a decisive round of talks on the bloc’s next seven-year budget for 2028–2034. These negotiations will shape the EU’...
Opinion
Europe’s sovereignty budget
Imagine if Europe chose to spend a half a trillion a year on a dependency that benefits regimes which wish it harm. We don’t have to imagine it. We ar...
Consultation response