Response to the inception impact assessment

“Commission Delegated Regulation
on a climate change mitigation and
adaptation taxonomy”

April 2020

This document lays out FuelsEurope and IOGP’s response to the inception impact assessment “Commission Delegated Regulation on a climate change mitigation and adaptation taxonomy”.

IOGP and FuelsEurope welcome the EU’s efforts to establish a sustainable finance framework that unlocks private investments in projects and technologies to reduce the impact on the environment, reduce greenhouse gas (GHG) emissions and support the transition of industry to a sustainable future.

The two associations call for an alignment between the taxonomy and its thresholds with the least-cost pathway to climate neutrality recognising all technologies available to reduce emissions.

Key Points

This document provides IOGP and FuelsEurope’s recommendations:

  • The principle of GHG emission reduction based on a life-cycle analysis & technology neutrality should drive the development of the Taxonomy delegated acts
  • The delegated acts should clearly define “transitional activities”
  • The delegated acts should introduce gradual thresholds
  • Delivering the energy transition with CCUS and hydrogen
  • Inclusive approach is key to the EU Taxonomy success
  • Setting reasonable timelines to implement the EU Taxonomy in an effective manner

Author

IOGP, FuelsEurope

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