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EurActiv (22 November 2021)

By Nikolaus J. Kurmayer and Pekka Vanttinen

Finland has come out against the EU’s draft “Taxonomy Climate Delegated Act” saying the proposed classification of biomass under the EU’s green finance rules goes against the country’s national interest.

The EU taxonomy regulation spells out conditions under which economic activities can be considered sustainable, sending a signal to investors about what is green and what is not.

The majority of economic activities, including hydropower and the burning of biomass, were covered in April in a so-called “climate delegated act,” which spells out conditions under which an economic sector can be classified as a “sustainable”, “transition” or “enabling” activity in the fight against climate change.

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