Taxonomy

All news and posts of our editorial team on the topic

CFOs call for improvements in taxonomy
CFOs of companies such as BMW, Telefónica and BP have called on the European Commission to improve the guidelines for the implementation of the taxonomy. The reason given was that the guidelines are unclear, burdensome and of little use to investors. This is reported by the Financial Times.“Rushing implementation, unclear definitions and divergent interpretations have […] continue reading →
EU taxonomy: NGOs file lawsuits
Greenpeace and a group of other NGOs today filed lawsuits against the EU Commission at the European Court of Justice in Luxembourg. Greenpeace Germany and seven other Greenpeace country offices are suing against the inclusion of nuclear power and natural gas in the EU taxonomy, while ClientEarth, WWF EU, Friends of the Earth Germany (BUND) […] continue reading →
Taxonomy: Commission defines criteria for ‘green’ aviation
The EU Commission will soon present a delegated act in which it will specify the technical assessment criteria for the taxonomy label for sustainable investments. The first draft of the document, which is available to our colleagues at “Contexte”, supplements a first version from 2021 and defines criteria for the aviation sector for the first […] continue reading →
Nuclear industry wants EU funding
Following a push by Poland, the European nuclear industry is now also pushing for EU funding for new nuclear power plant construction. “We will push for the exclusion of nuclear power plants to be withdrawn when existing support funds are revised and also for there to be no automatic exclusion in future funds,” a Nuclear […] continue reading →
Agreement on green bond standard
EU negotiators have agreed on the introduction of a standard for green bonds. It is intended to help unify the fragmented market. This is overdue due to the growing financial importance of this financial instrument, especially in Europe. The compromise aims to:Identify “high quality” green bonds and companies to avoid greenwashing;Make it clear to issuers […] continue reading →
Nuclear fusion – the breakthrough Europe should have made
For a long time, Europe was considered a pioneer in nuclear fusion. But in the meantime, the USA is far ahead. André Loesekrug-Pietri, chairman of JEDI, therefore calls for Europe to move away from "bureaucratic monsters" and massive subsidies in favor of selective funding for innovations. continue reading →
Platform on Sustainable Finance: end of a turbulent mandate
Today, the first mandate of the EU Platform on Sustainable Finance ends after two years of advising the Commission on the taxonomy regulation. It was not only the definition of natural gas and nuclear power as sustainable that caused tensions between the two bodies. Five members left the platform with further serious allegations. continue reading →
Austria files taxonomy lawsuit
Austria filed its announced lawsuit against the EU Commission’s decision to include nuclear power and natural gas in the taxonomy with the General Court of the European Union. Yesterday, the deadline for actions against the Delegated Act ended. The action for annulment contains a total of 16 points of complaint, as Austrian Climate Protection Minister […] continue reading →
Taxonomy: Austria sues alone
After Germany, Luxembourg also backs out. The Grand Duchy only wants to join the complaint before the European Court of Justice, but not take action itself. The deadline is October 10. continue reading →
Social Taxonomy: Was that it?
The EU Commission actually wanted to write a report on the planned Social Taxonomy by the end of the year. Its advisory body has already presented ideas, but after the heated discussion on Environmental Taxonomy, there seems to be a lack of political will – and priority. continue reading →
Taxonomy: Greenpeace threatens legal action
Several country offices of the environmental organization Greenpeace have announced an action before the European Court of Justice if the Commission does not revise the Delegated Act, which includes nuclear power and natural gas projects in the environmental taxonomy. Greenpeace Germany, in cooperation with its country offices in Spain, Italy, Belgium, France, Luxembourg, the EU, […] continue reading →
Taxonomy: NGOs leave European platform
The separation between environmental NGOs and the European Commission is about to be finalized: Several of them will soon officially announce their boycott of the European Sustainable Finance Platform. The information, reported on Friday by Responsible Investor, was confirmed to Europe.Table by two environmental NGOs. The body is supposed to advise the European Commission on […] continue reading →
Outlook: the fall agenda for sustainability
Lawsuits against the taxonomy, negotiations on the battery regulation, work on the supply chain law and a new bouquet of proposals on the circular economy – this fall, sustainability in Brussels and Strasbourg will be colorful. continue reading →
’90 percent of the way is still ahead of us’
The market for sustainable investments is growing rapidly, but it needs a better framework, says Silke Stremlau. She has been chair of the German government's Sustainable Finance Advisory Council since this summer. She believes the EU taxonomy is the right approach – but it still has fundamental flaws, as she explains in an interview with Leonie Düngefeld. continue reading →
Expert: Insurers not inclined to invest in nuclear power despite taxonomy
Insurers in Germany will exercise caution when investing in nuclear power, according to an industry expert. “I think insurers will generally tend to rule it out due to the critical attitude many people have toward nuclear power in Germany,” Herbert Schneidemann, chairman of the German Actuarial Society, told news agencies dpa and dpa-AFX. “Personally, I […] continue reading →
Gesamtmetall president Wolf calls for debate on new nuclear power plants
The president of the German employers’ association Gesamtmetall, Stefan Wolf, has spoken out in favor of continued operation of the three nuclear power plants still running in Germany and a debate on the construction of new reactors. “I think a longer operating time for nuclear power plants is absolutely necessary,” Wolf told the newspapers of […] continue reading →
Proposals for social standards of the taxonomy presented
Yesterday, the EU Platform on Sustainable Finance presented a draft recommendation on ‘minimum safeguards’ for the green taxonomy. According to the Taxonomy Regulation, which has been in force since June 2020 and provides a framework for sustainable investment, economic activities are only environmentally sustainable if they are carried out in accordance with international human and […] continue reading →
Taxonomy appeal rejected: Lawsuits announced
Yesterday, Parliament approved the inclusion of gas and nuclear power in the taxonomy. Investors are now facing legal uncertainty for the time being: Austria has already prepared a lawsuit against the legal act, and members of parliament and environmental associations also want to take legal action. continue reading →