We know that the construction and operation of buildings has an enormous impact on energy-related carbon emissions, contributing around 40% globally. To deal with this, many real estate investors are committing to transition their real estate portfolios to achieve net zero greenhouse gas emissions by 2050 or earlier. Owners, occupiers, investors and funders of the built environment will come under increased pressure to reduce emissions and substantiate their sustainability credentials.
The legal recognition of a type of fuel via the introduction of a legal definition and certification framework is a defining step in establishing a market for such fuels. Renewable hydrogen took this step when it was officially recognized and supported at EU level by the 2018 recast of the Renewable Energy Directive, joining biofuels and biogases, at least for what concerns its uses in the transport sector.
On Wednesday, 15 December 2022, the European Commission adopted its proposals for a new EU Gas Package, through a recast of the Gas Directive and Gas Regulation. Below is a summary of the main updates.
On 21 April 2021, the European Commission published the final Delegated Act (DA) under the EU taxonomy as part of the wider EU sustainable finance package. The key goal of the package is to provide tools for investors to identify sustainable investment opportunities and to direct finance towards the European Green Deal.
As part of global decarbonization initiatives, there is a clear need to substantially increase power generation levels in order to electrify – directly or indirectly – other parts of the energy system, particularly through displacing fossil fuels in industry, heating and transport. In the UK, the Committee on Climate Change…