T&E says gas must be removed from green investments list after expert group finds EU decision is not science based.
Experts hired by the EU Commission to help draft sustainable investment rules have told Brussels its plan to label gas as green risks undermining the bloc’s climate goals. The EU Taxonomy draft proposal, published by the Commission late on 31 December 2021, confirmed that gas would be included as a sustainable investment.
Currently, the Taxonomy sets a limit for greenhouse gas emissions from electricity production at 100g of CO2 equivalent per kilowatt hour, which is in line with the science-based recommendations of the expert group. This limit excludes gas from being labelled “green”, in a bid to ensure the EU meets its net-zero target by 2050. However, the new Commission proposal published on 31 December 2021 dramatically reversed this position, by including gas in the taxonomy.
Luca Bonaccorsi added: “The Delegated Act on gas doesn’t just make the goals of the Green Deal and the Paris treaty impossible, it also represents the largest incentive scheme in history for biogas. The reliance on biogas will compromise vast swathes of land, and could make Europe dependent on imports from abroad. We are heading towards a repeat of the biofuels disaster, but this time around for biogas.
Luca Bonaccorsi concluded: “This Delegated Act is not based on science and it must be dropped. The Commission must listen to its own experts, not the political whims of member states. If the Commission doesn’t substantially modify the Delegated Act, and make it compliant with the European Green Deal, the substantial backlash they have already seen from the scientific community, financial institutions and environmental groups, will grow louder and stronger in calling for a parliamentary veto.
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