European Commission

The European Commission is expected to publish its "sustainable finance taxonomy", a set of long-anticipated rules on which businesses can attract climate-friendly investments in January 2022. Discussions between member states and the EU have been circling majorly around whether nuclear energy and natural gas will be identified as climate-friendly investments.
  • December 21, 2021
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The report shows that renewables overtook fossil fuels as the number one power source in the EU for the first time in 2020, generating 38% of electricity, compared to 37% for fossil fuels. To date, 9 EU Member States have already phased out coal, 13 others have committed to a phase-out date and 4 are considering possible timelines. Compared to 2019, greenhouse gas emissions in 2020 fell by almost 10%, an unprecedented drop in emissions due to the COVID-19 pandemic, which brought overall emission reductions to 31%, compared to 1990.
  • October 30, 2021
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The European Commission has given permission to an aid scheme presented by the French government to support renewable electricity production. The scheme grants support to operators of solar energy, onshore wind energy and hydroelectric plants by means of a competitive bidding process. The scheme has a total budget of around €30.5 billion and will serve eligible French renewable producers for a period of 5 years. France hopes to procure 34 GW of renewables generation capacity by 2026 under the incentive scheme.
  • July 30, 2021
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