The EU Taxonomy was introduced in 2020 as a reporting tool. The declared goal of Taxonomy is to direct the flow of private capital to finance transition towards climate neutrality. It is a flagship project of the sustainable finance strategy adopted by the European Commission as a part of the European Green Deal.

The Taxonomy, being a product of the regulation – not of market participants – became a label provoking political tensions. Using this label to describe economic activities became a matter of principle, rather than a market instrument. The illustration of this phenomenon is the political debate about qualifying gas and nuclear energy as “sustainable” activities under the Taxonomy.

By July 2022, the European Parliament will formally react to the Complementary Delegated Act (CDA) which, under some conditions, qualifies gas and the nuclear energy as “green” activities.

The panelists will explore the subject-matter along those guiding questions:

• How the geopolitical situation affects the role of gas and nuclear energy in the climate transition?
• How the CDA will affect the access to finance for gas and nuclear energy projects?
• Is there an impact on renewables?

Workshop Materials:

Agenda

ERCST presentation