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19 Jun 2019

Sven Giegold

EU Commission's Technical Expert Group recommends excluding coal & nuclear power from sustainable investments

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"Strong signal for sustainable finance: EU Commission expert group excludes coal and nuclear power from green financial products", 18 June 2019

[T]he EU Commission’s Technical Expert Group published recommendations on sustainable finance. Last spring, the EU Commission had presented various legislative proposals as part of its action plan for sustainable finance. The expert group’s recommendations relate to the classification of sustainable investments (taxonomy), a methodology for sustainable benchmark indices, measures for climate-related disclosure obligations and the design of an EU standard for green bonds.

Regarding classification, the experts recommend excluding investments in coal and nuclear power from sustainable investments. This also applies to investments meant to increase efficiency of existing fossil infrastructure. In contrast, investments that make a positive contribution to climate protection and do not undermine other environmental goals such as the protection of ecosystems should be considered sustainable. The European Parliament has already established its position for a framework law for classification, while negotiations in the Council of Ministers are still ongoing...