The UK has committed to creating a green taxonomy to provide a shared understanding of which economic activities count as sustainable. It should be robust and evidence-based, taking an objective and science-based approach to assessing sustainability.
Technical Screening Criteria (TSCs) for the climate change mitigation, and climate change adaptation objectives within the UK green taxonomy will be based on those in the EU Taxonomy. The Government is currently reviewing these and expects to consult on UK draft TSCs in the first quarter of 2022, ahead of legislating by the end of 2022.
In recent weeks the European Commission has proposed controversial additional TSCs for the EU taxonomy, most notably the inclusion of nuclear and natural gas in power generation, which are currently being discussed by Member States and the European Parliament.
The inclusion of controversial power sources not only risks affecting investment and deployment patterns in the net-zero transition, but may also be a threat to the authority of the taxonomy as a whole
Key questions for the UK now include whether and how to address these issues in its own taxonomy, and how to promote a science-based ‘race to the top’ between jurisdictions that can lead to robust international standards.
This Environment and Society Discussion Series event brings expert voices together to discuss EU, UK, and international perspectives, and is co-organized with E3G.