Breakingviews - EU greenwash laxity could see it build back worse
this tweak also creates a problematic loophole. Because the allowable emissions are averaged over a 20-year timeframe, a project that spewed out way more than 550 kilogrammes of carbon a year in a shorter period can still be taxonomy-compliant. Its developers would just need to show emissions will decline over time due to carbon capture, utilisation and storage technology, despite “CCUS” not currently being commercially viable.
The loser is the planet. Unless the draft is overhauled, more CO2 could be emitted than Europe can afford to hit its decarbonisation targets. And the taxonomy, supposed to help stamp out greenwashing, will instead enable it.- The European Commission said on Jan. 10 it had delayed to later this month the deadline for experts to give feedback on divisive plans to allow some natural gas and nuclear energy projects to be labelled as sustainable investments.
- Brussels said on Jan. 10 its expert advisers will have until Jan. 21 to provide feedback on the draft proposal, rather than until Jan. 12 as initially planned.
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