Green finance

MEP Canfin: The French hard line on nuclear is a dead end

The hard line defended by France over the inclusion of nuclear power in the green finance taxonomy is a dead end because there is no majority in favour of it at the EU level, warns lawmaker Pascal Canfin. Instead, the French MEP argues for including nuclear energy in the 'transition' category.

EU chief adviser says credibility of green finance rules at risk

The head of the group advising the European Union on its green finance rules has urged Brussels to resist political pressure to weaken them, saying the credibility of the regulation is at stake.

G7 ponders increasing climate finance in build-up to COP26

UK Chancellor Rishi Sunak met with G7 finance ministers and central bank governors to discuss the role of finance in supporting the net-zero transition and implored developed nations to raise efforts to generate $100bn in annual revenue to support developing nations combat the climate crisis. EURACTIV's media partner, Edie.net reports.

Don’t weaken sustainability criteria for green hydrogen, renewable groups tell Commission

Europe should support high sustainability standards for clean hydrogen in its green finance rules, argue a group of 24 renewable energy companies and industry bodies in a letter sent to the European Commission on Wednesday (31 March).

How the European Commission is underselling climate action

A blanket 10% rate of interest on borrowing is being assumed for the European Commission's upcoming 2030 package of climate and energy laws. This fails to take into account the present low rates across most European countries, writes Ursula Woodburn.

Poland, others step up push for gas in EU green finance rules: document

Poland, Bulgaria and seven other countries have stepped up their push to ensure natural gas is classed as a sustainable investment under EU finance rules, warning Brussels its latest proposal falls short, a document seen by Reuters showed.

LEAK: EU experts to say nuclear power qualifies for green investment label

Experts tasked with assessing whether the European Union should label nuclear power as a green investment will say that the fuel qualifies as sustainable, according to a leaked document.

Macron, Orban urge EU to ‘actively support’ nuclear power

A group of seven European leaders fronted by French President Emmanuel Macron has called on the European Commission to stop hindering nuclear power and consider ways of bringing atomic energy into the EU’s green finance rule book ahead of an EU summit on Thursday (25 March).

EU to offer gas plants a green finance label, under certain conditions

The European Union plans to label some gas power plants as sustainable investments, after an initial proposal to deny them a green label faced a backlash from a group of 10 EU member states.

Greek power utility forges ahead with corporate green financing

Greece's Public Power Corp. (PPC), the country's biggest energy company, has surpassed expectations with its first-ever green bond. The energy utility also broke new ground at EU level by committing to pay investors a higher fee if it misses its climate goals, EURACTIV.gr reports.

EU taxonomy shutting the door to grid-powered hydrogen, critics say

A coalition of industrialists and electricity companies have expressed concerns about a draft emission threshold below which hydrogen would be considered “green” under the EU’s sustainable finance taxonomy.

LEAK: EU considers expanding role of gas in green finance

The European Commission is reconsidering the position of gas in its sustainable finance taxonomy by recognising the fossil fuel’s role in keeping the lights on during peak electricity demand, according to a leaked document seen by EURACTIV.

EU prepares to turn the screw on asset managers over greenwashing

For money managers and advisers keen to market their sustainable investing credentials to European clients, going green is about to get a lot tougher.

France proposes common US-EU rules for green finance

Europe and the United States should agree on common rules to determine how 'green' a financial investment is, France's finance minister has said after talks with US President Joe Biden's climate envoy.

Flying in the face of the ECB – Greenpeace paraglides onto bank to protest fossil fuel funding

Two climate activists from Greenpeace paraglided onto the roof of the European Central Bank (ECB) headquarters on Wednesday (10 March) and hung a banner accusing the bank of funding polluters on the eve of its governing board meeting.

Climate transition depends on shifting finance

The criteria for the EU sustainable finance taxonomy can show investors and businesses the way to climate neutrality globally and getting the taxonomy right would make the EU a global trailblazer, argue Krista Mikkonen and Bas Eickhout.

Parliament spells out red lines in EU battle over green finance

Senior lawmakers have expressed concerns about the EU’s proposed sustainable finance taxonomy rule book, raising the possibility that an unruly cross-party majority might emerge to reject the proposal in the European Parliament.

Not quite over yet: EIB spent €890 million on fossil gas since phase out, activists say

The European Investment Bank (EIB) has invested €890 million in gas projects since it pledged to phase out investments into fossil fuels by 2022, contradicting the bank’s "gas is over" narrative, activists say.

Banks in EU should publish yardstick of ‘green’ activity, says watchdog

Banks in the European Union should publish a "green asset ratio" (GAR) as a core measure of their climate-friendly business activities, the EU's banking watchdog proposed on Monday (1st March).

NGOs call for stricter reporting requirements for European companies

By the end of March, the European Commission wants to present a revised version of the so-called non-financial reporting directive (NFRD). A coalition of European NGOs is calling for greater transparency and stricter reporting requirements for companies in sustainability matters. EURACTIV Germany reports.

EU countries back green building renovations, but quiet on binding standards

European Union countries will rally behind the bloc's plan to massively expand building renovations to cut emissions, according to a draft document, but it did not explicitly endorse using legally-binding energy performance standards to do it.

EU advisors and Poland’s PGE increase pressure over gas in green finance rules

The European Commission came under new pressure on Monday (22 February) from Poland's biggest power producer, PGE, and its own advisors, over whether to include gas power in EU rules on sustainable finance.

Why the Commission is getting it wrong on climate number-crunching

The European Commission's cost-benefit analysis for its upcoming 'Fit for 55' package of green laws for 2030 is outdated, assuming an eye-watering 10% cost of capital for climate action, writes Brook Riley.

Concerns raised over green spending as EU moves forward with recovery plan

The President of the European Commission, Ursula von der Leyen, has called on EU member states to speed up delivery of their national spending plans in order tap into the EU's €750 billion recovery fund, but concerns have been raised over a lack of transparency on how the money may be spent.