The EU has set specific criteria for climate-friendly investments. A legal act was adopted on Thursday night regulating the details of the so-called taxonomy. The EU countries gave a midnight deadline to reject it. It defines criteria for environmentally friendly bioenergy, hydropower and forestry, for example. However, it has not yet been determined whether gas and nuclear power and certain agricultural activities can be climate-friendly. To this end, the EU Commission wants to submit another legal act by the end of the year. The taxonomy is controversial as it sets the course for large financial flows. It defines which areas of the economy are climate-friendly. Citizens and investors should receive clear information about sustainable financial products. This should help to mobilize the billions needed for the climate change. With the legal act, a first step towards specific criteria has now been taken. Among other things, a threshold value for carbon dioxide emissions of 100 grams per kilowatt hour is set for investments in energy infrastructure. Electricity production with solar panels, hydropower or wind power is rated as climate-friendly. Transport by rail is also on the list. The rules come into effect on January 1st.
Taxonomy – EU sets criteria for sustainable investment – economy
