The European Commission published on 21 April its Sustainable Finance Package including a Delegated Act on EU Taxonomy to support sustainable investment in Europe.
With the rest of the renewables, sustainable bioenergy finds its place among the activities contributing to climate change mitigation. Bioenergy Europe welcomes the further streamlining towards REDII metrics and requirements. Europe cannot do without bioenergy if we want to fight climate change and reduce emissions of greenhouse gases.
The Delegated Act introduces technical screening criteria to define which activities contribute substantially to climate change adaptation and climate change mitigation.
Its objective is to support sustainable investment by making it clearer which economic activities most contribute to meeting the EU's environmental and climate objectives.
When produced sustainably and efficiently, bioenergy is a key solution to achieving net zero emissions.
According to Jean-Marc Jossart, Secretary-General at Bioenergy Europe, “it is just natural for bioenergy to be screened as a sustainable investment given it offers an alternative to fossil fuels and is actually the only energy sector complying with mandatory sustainability criteria.”
The European Commission scenarios presented in the recent communication on Stepping up Europe’s 2030 climate ambition already recognized as one of the key solutions for climate change mitigation. They forecast the need for more bioenergy, project an increase in all end-uses in this decade, and steep growth by 2050.
Bioenergy is already the main renewable energy source used in the EU, representing 57% of the renewable energy consumed in the EU. It can be the number one fuel to decarbonise a significant part of our remaining heat, electricity and transport demand by 2050.
Bioenergy Europe was pleased to see modifications in today’s package regarding the streamlining of the metrics and requirements towards those of REDII. “We regret that the Commission missed the chance to fully align the requirements with the ones in existing legislation”, commented Jean-Marc Jossart “A level playing field should be promoted when blending sustainable solid, gaseous and liquid biomass fuels”, he added.
Bioenergy Europe strongly supports the objective of the Sustainable Finance Package to enable investors to direct their investments towards the most sustainable technologies and businesses. With 50,000 business units and equipment manufacturers solidly based in Europe, ensuring access to green finance will be necessary to support R&D and deliver EU made edge--cutting technology.
The sector took note that the EU Taxonomy Delegated Act is aimed at being a living document, to evolve over time, and is looking forward to continuing its collaboration with the European Commission for its future revisions.