Today, the European Commission launched the so called ‘Delegated Act’ of itsSustainable Finance Taxonomy  The EU taxonomy is a site law that will certainly from following year specify what can be identified as a lasting financial investment in the EU. However, what was expected to be the requirement versus greenwashing has actually currently ended up being yet one more greenwashing device as the Taxonomy mentions that forestry (logging trees) and also bioenergy (burning trees and also plants for power) make a “considerable payment to environment reduction” and also do “no considerable injury” to biodiversity.
BirdLife Europe belongs to the European Commission’s Platform on Sustainable Finance sharing experience on what this law need to appear like. Following the launch of the Delegated Act today, BirdLife is, along with various other ecological NGOs and also customer organizations, suspending our tasks in the Platform to object the outright greenwashing the taxonomy would certainly permit.
In an interview previously today, Commissioner Mairead McGuinness mentioned that the EU Taxonomy is “transformational past our wildest ideas” & & that they have actually “embraced a reliable taxonomy, based upon scientific research”.
This is not real when it involves nature, as the Delegated Act embraced by the EU Commission blatantly overlooks the scientific research and also proof and also backs the greenwashing of dangerous logging and also bioenergy adhering to a nontransparent collection of political treatments by beneficial interests.
BirdLife, along with various other ecological specialists of the Platform on Sustainable Finance, has actually asked the EU Commission for an essential explanation on the regulations of procedure of thePlatform The Chair of the Platform has actually made a number of ideas to the Commission to guarantee that execution of the EU taxonomy complies with clinical proof as needed by the law. BirdLife is putting on hold tasks in the Platform, pending concrete peace of mind that efficient adjustments will certainly be made to guarantee that clinical proof is complied with, which the Platform is not simply made use of as a smoke display.
Ariel Brunner, Senior Head of Policy, BirdLife Europe:
“Given the severity of our worries, we see ourselves required to suspend our energetic engagement in the Platform of Sustainable Finance pending an explanation by the EU along lines asked for by the Chair of thePlatform Independent specialists can not just be made use of as a smoke display for political choices that have no link to proof”.
In parallel, BirdLife has actually asked for today’s Delegated Act to be turned down. This would certainly require the Commission to return to the attracting board and also bring back sustainability requirements based upon audio scientific research.
“By caving in to the stress of the forestry markets lobby team and also their political enrollers in the Finnish and also Swedish federal governments, the European Commission has actually betrayed scientific research, the European Green Deal and also its very own lawful required done in one go. We get in touch with the Parliament and also Council to turn down the Delegated Act that would certainly ruin the reliability of the EU as an international typical setter and also make environment-friendly financing right now one more cover for the liquidation of life in the world.”
Earlier this month, BirdLife Europe, civil culture organisations and also researchers sent out an open letter to the European Commission revealing deep worries concerning the greenwash-enabling course the taxonomy seemed heading down, and also specifying “need to national politics and also lobbying dominate scientific research, it is our obligation to notify you that we would certainly be required to reassess our payment to the Platform.”
The open letter can be checked out below
 The EU’s Taxonomy Regulation entered into pressure in July 2020. The Delegated Act provided today information just how authorities and also the marketplace can follow the Regulation, by laying out which financial tasks and also markets can be classified as ‘lasting’. The Delegated Act is currently based on authorization by the European Parliament and also Council.