Civil Society Statement: Ten Priorities for the Climate Taxonomy of Sustainable Activities

We add our voice to the 130 experts and NGOs expressing substantial concerns with the draft act by the Commission fixing the details of the green taxonomy. This will define the activities that will be considered as environmentally sustainable by administrations, regulators and policy makers, and potentially the judiciary. These norms will be one major instrument to steer private investments and public policies to meet the objective of a carbon neutral European economy by 2050. Since the minimum investment required until 2050 for this purpose amounts to on average EUR 800 billion (4% of 2019 GDP) a year being redirected from existing funds, and an additional EUR 180 billion of capital expenditure, there is no room for error in the effectiveness and efficiency of the process.  Furthermore, the green taxonomy urgently needs to be complemented by a « brown » taxonomy allowing to identify activities that have to be discouraged and abandoned. Discover the 10 concerns to be addressed in priority in the document below.

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