WebJul 14, 2024 · The Taxonomy Regulation entered into force in 2024, but lawmakers have been working to refine it since then. The proposal to include both nuclear power and natural gas in the taxonomy was designed ... WebFeb 15, 2024 · ClientEarth’s claim. Under UK company law, a company’s board of directors has a legal obligation to promote the company’s success and act with reasonable care, skill, and diligence. In the derivative suit, ClientEarth asserts that the Board needs to fulfill these requirements by properly managing climate risks. In addition, ClientEarth ...
EU parliament votes in favor of gas, nuclear inclusion in …
WebJan 21, 2024 · But a legal analysis carried out by ClientEarth found that such a move would clash with several EU laws — the Treaty on the Functioning of the European Union, the EU Climate Law and the Taxonomy Regulation itself — and international commitments under the 2015 Paris Agreement. ... It jeopardises the purpose of the taxonomy to create a … WebSep 16, 2024 · European NGOs have today announced legal action seeking to block forest bioenergy and other forestry projects from the Sustainable Finance Taxonomy, calling their inclusion ‘unlawful’. The Taxonomy, which has been criticised for including nuclear and natural gas as sustainable investments, also includes projects that accelerate logging … make lowes payment
Platform on Sustainable Finance
WebClientEarth, WWF’s European Policy Office, Transport & Environment (T&E), and BUND (Friends of the Earth Germany) are starting legal action to prevent fossil gas from featuring in the EU’s sustainable finance Taxonomy. ... "The Taxonomy is supposed to be the gold standard for investments but, as it stands, this Taxonomy Act sends all the ... WebFeb 3, 2024 · The challenges concern the EU’s sustainable finance taxonomy, a system that restricts which investments can be labelled as climate-friendly, and which the EU hopes investors will use to guide more capital to low-carbon projects. ... ClientEarth said the taxonomy rules were based on the EU’s biomass policy – which is currently being ... WebJul 6, 2024 · Environmental group ClientEarth said it was "looking at options to challenge the inclusion of fossil gas in the Taxonomy in court – greenwashing cannot win." "Branding fossil gas as transitional and green in the Taxonomy is unlawful as it clashes with the EU's key climate legislation, including the European Climate Law and the Taxonomy ... make lower case upper case