Amidst a shift to a low-carbon economy, the EU Taxonomy is a mechanism aiming to accelerate the European energy transition.
In our new podcast, EMEA EMI Talks, Andy Moody (Partner, London; Head of Disputes and Chair, EMEA Energy, Mining and Infrastructure Group) and William-James Kettlewell (Associate, Brussels; Member of the Baker McKenzie Energy Transition Group) explore the impact of the EU Taxonomy mechanism on businesses that are active in the energy and renewables sectors, as well as risks and opportunities in the energy, mining and infrastructure sector in EMEA.
Episode 1: Gas, Hydrogen, and Other Fuels under the EU Taxonomy
The EU Taxonomy is a mechanism that aims to accelerate European energy transition to a low-carbon economy. It is the foundational system on which to classify an activity as “sustainable” for the next steps of the initiative that relate to reforming the financial system and public and private investment practices.
The EU Taxonomy is part of the decision-making process of the EU when selecting investments eligible to receive funds from the European Green Deal Investment Plan.
For the gas, hydrogen and other fuel companies operating in a rapidly evolving commercial context in Europe, Taxonomy sets out limitations as to what activities are counted as sustainable or not, which directly impacts on business strategies.
In this episode, we explore the impact of the EU Taxonomy on businesses that are active in the energy and renewables sectors, and what to watch out for in the energy, mining and infrastructure sector in EMEA.