TEG final report on the EU taxonomy
On 9 March, the final report on EU taxonomy, developed by the Technical Expert Group (TEG) on Sustainable Finance, contains recommendations relating to the overarching design of the Taxonomy, as well as guidance on how companies and financial institutions can make disclosures using the taxonomy. The report is supplemented by a technical annex containing an updated list of technical screening criteria for economic activities that can substantially contribute to climate change mitigation or adaptation, including an assessment of significant harm to other environmental objectives.
On nuclear, the TEG assessed nuclear energy as part of its review on energy generation activities. Nuclear energy generation has near to zero greenhouse gas emissions in the energy generation phase and can be a contributor to climate mitigation objectives. Consideration of nuclear energy by the TEG from a climate mitigation perspective was therefore warranted.
The TEG report can be found here.