{"id":53238,"date":"2020-03-12T23:21:20","date_gmt":"2020-03-12T21:21:20","guid":{"rendered":"https:\/\/www.csregypt.com\/?p=53238"},"modified":"2020-03-12T23:21:20","modified_gmt":"2020-03-12T21:21:20","slug":"eu-green-dictionary-to-boost-sustainable-investments","status":"publish","type":"post","link":"https:\/\/csregypt.com\/en\/eu-green-dictionary-to-boost-sustainable-investments\/","title":{"rendered":"EU green dictionary to boost sustainable investments"},"content":{"rendered":"

The EU green dictionary – EU Taxonomy –\u00a0 is expected to give a real boost to sustainable investments.<\/p>\n

The practical side of Europe\u2019s green planning went on display on March 12 when the\u00a0EU<\/a>\u00a0Taxonomy \u2013 a vast dictionary of definitions of exactly what constitutes genuine greening across the full range of real-life commercial applications \u2013 was discussed at a\u00a0web-based stakeholder dialogue<\/a>\u00a0led by the climate experts who have spent two years designing it.<\/p>\n

The\u00a0Technical Expert Group on Sustainable Finance<\/a>\u00a0have in recent days also published both their report on the EU’s classification of green economic activities \u2013 or taxonomy \u2013 and a report applying similar thinking to the issuance of green bonds funding green projects, the EU Green Bond Standard. Through these reports, investors and industry have for the first time been given a definition of what is \u201cgreen\u201d, rather than just \u201cgreenwashing\u201d, or looking green. This will give a real boost to sustainable investments.<\/p>\n

It gives the technical experts \u2013 who hail from across civil society, academia, business and the finance sector, and assist the Commission in developing policies on sustainable finance – an opportunity to present and discuss their final reports.<\/p>\n

This work provides the detailed technical knowledge that makes it possible to implement the \u20ac1 trillion EU Green Deal announced by European Commission boss Ursula von der Leyen in December – a roadmap with actions to boost the efficient use of resources by moving to a clean, circular economy restore biodiversity and cut pollution. The EU Green Deal outlines investments needed and financing tools available to achieve the ambition of climate neutrality by 2050, and explains how to ensure a just and inclusive transition.<\/p>\n

The completion and presentation of the reports is a vital step in organising sustainable finance to make Europe climate neutral by 2050, Valdis Dombrovskis, Executive Vice-President for an Economy that Works for People, said in a statement when they were published on 9 March:<\/p>\n

\u201cThese reports \u2026 provide excellent input for us to develop our final standards\u00a0on climate change mitigation and climate change adaptation. They will also help us establish EU green bond standards as part of broader measures to spur the take-up of sustainable finance in Europe.\u201d<\/p>\n

The report on taxonomy leads to the natural next step. The EBRD\u2019s Carel Cronenberg, a member of the Technical Expert Group who has led work on defining criteria for the manufacturing industry, calls this \u201cadding grammar\u201d to the \u201cgreen dictionary\u201d of the EU Taxonomy.<\/p>\n

The taxonomy report includes guidance on how companies and financial institutions can use it. The Commission will use this report as a basis to develop rules setting out the EU’s classification of green activities for climate change mitigation and climate change adaptation. It will adopt the classifications for climate change mitigation and climate change adaptation in the form of Delegated Acts by the end of 2020,\u00a0as set out in the Taxonomy Regulation<\/a>.<\/p>\n

Translating climate ambition into investments on the ground that actually reduce carbon emissions to a level compatible with the 2015 Paris Agreement\u2019s goal to keep global warming to no more than 2C, or if possible a more ambitious 1.5C, requires practical – and brave – thinking in the next few years if carbon neutrality is to be achieved by 2050.<\/p>\n

One example of why, given by the EBRD\u2019s Cronenberg, is that much of the planning necessarily has to be not just about visibly clean and virtuous investments in \u201cdeep green\u201d renewables projects, but also about helping the currently unsustainable parts of the economy transition towards lower carbon use.<\/p>\n

European countries\u2019 emissions \u2013 especially those where the EBRD works \u2013 include many areas high in carbon and in urgent need of transition. To be effective, any program of decarbonisation must focus on substantially lower emissions in high-carbon sectors.<\/p>\n

With the rules of green finance slowly taking shape, some green investors have fought shy of investing in sectors as counter-intuitive as steel or cement or chemical production or air travel or roads.<\/p>\n

But having a reliable system of measurement should make it easier to understand the green value of these investments in a more sophisticated way \u2013 specifically, by making it clear that they offer\u00a0big carbon emissions savings<\/a>.<\/p>\n

\u201cShould we stop financing cement plants? I would say there is not an alternative for cement yet,\u201d comments Cronenberg. \u201cWe will need a lot of cement in climate adaptation. So we\u2019d better work with the cement sector to help them to decarbonise. And that\u2019s why the EU Taxonomy specifically has developed criteria for those high-emitting sectors.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The EU green dictionary – EU Taxonomy –\u00a0 is expected to give a real boost to sustainable investments. The practical side of Europe\u2019s green planning went on display on March 12 when the\u00a0EU\u00a0Taxonomy \u2013 a vast dictionary of definitions of exactly what constitutes genuine greening across the full range of real-life commercial applications \u2013 was […]<\/p>\n","protected":false},"author":410,"featured_media":53239,"comment_status":"open","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"footnotes":""},"categories":[984,6030],"tags":[6461,6554,6336],"yoast_head":"\nEU green dictionary to boost sustainable investments - Csr Egypt<\/title>\n<meta name=\"description\" content=\"The EU green dictionary - EU Taxonomy -\u00a0 is expected to give a real boost to sustainable investments.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/csregypt.com\/en\/eu-green-dictionary-to-boost-sustainable-investments\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EU green dictionary to boost sustainable investments - 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