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NGOs cast doubt over EU green bonds proposal

NGOs cast doubt over EU green bonds proposal
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FinTech Goes Green - Technology

To print this article, all you need is to be registered or login on Mondaq.com. There is a growing acceptance that business has a role to play in combatting climate change. The desire to accelerate a transition to a low-carbon economy is real and is shaping transformation across many sectors. Just last week, Ryanair pledged to power 12.5% of the carriers flights with green fuel currently two to four times more costly than the standard fuel by 2030 in a bid to cut carbon emissions. As Peggy Hollinger pointed out when “Michael O Leary is ready to pay a premium for sustainable jet fuel to help save the planet, you know the business

EU Taxonomy Climate Technical Screening Criteria (TSC) | Allen & Overy LLP

transition to a circular economy; pollution prevention and control; and protection and restoration of biodiversity and ecosystems. An economic activity will be considered to be environmentally sustainable if it complies with all four of the following criteria: substantially contributes to one or more environmental objectives; does not significantly harm (DNSH) any environmental objective; complies with minimum safeguards based on certain human rights standards; and complies with the Technical Screening Criteria (TSC), which are the detailed conditions for the first two limbs above. The EU Taxonomy is due to apply in relation to the climate-related objectives from 1 January 2022. The TSC for these objectives were originally due to be adopted by the Commission on 31 December 2020, however these were delayed.

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