Sustainable Finance Taxonomy
The European Commission set up a Technical Expert Group on Sustainable Finance (TEG) to assist with its work on an EU classification system – the so-called EU Taxonomy – to determine whether an economic activity is environmentally sustainable. This also has implications for Europe’s DSOs. In fact, network investments are indispensable to achieve the energy transition and Europe’s decarbonisation targets.
In order to highlight the role that grids play in climate change mitigation, E.DSO responded to a consultation launched by the TEG on its Taxonomy Technical Report, which was put forward in June 2019.
E.DSO jointly with Eurelectric and Geode is calling for the crucial role of electricity distribution networks, including their digitisation, for the energy transition to be recognized in the Sustainable Finance (Taxonomy) Proposal.
To this end we ask decision-makers participating in the ongoing trilogue negotiations to explicitly reference grid digitalisation investments in the Taxonomy’s Art. 6(1) as well as to take distribution grid investments into account under Art 7(1) to acknowledge the key role of electrification for climate change adaptation.