does not lead to a lock in of carbon intensive assets over the economic lifetime of those assets.does not hamper the development and deployment of low carbon alternatives and.has greenhouse gas emissions levels which correspond to the best performance in the sector.However, economic activities in sectors such as aviation where low carbon alternative technology is not yet economically feasible may still be considered as making a substantial contribution to climate change mitigation for the purposes of the EU Taxonomy Regulation provided that the activity: Although manufacturers have done much over the years to produce more fuel-efficient engines, aircraft remain powered by kerosene jet-fuel and this is likely to remain the case for some time to come – particularly for the vast majority of commercial widebody aircraft. However, at present the ability of the industry to make such progress is technologically constrained. Of the objectives listed above, the European Commission recognises that the aviation industry has the potential to play a significant role in reducing carbon emissions and thus could, in future, make a substantial contribution to climate change mitigation. comply with the technical screening criteria set out in delegated legislation pursuant to the EU Taxonomy Regulation.are carried on in compliance with certain safeguards (such as compliance with certain international human rights and labour standards), and.do no significant harm to any of the other environmental objectives,.make a substantial contribution to one or more of these environmental objectives,.It then provides that economic activities can be included within the EU Taxonomy if they: The protection and restoration of biodiversity and ecosystems.The sustainable use and protection of water and marine resources.
It does this by setting out in Article 9 of the EU Taxonomy Regulation a number of environmental objectives. To encourage investor confidence that investments will have the desired positive environmental impact, the EU Taxonomy Regulation establishes a classification system for environmentally sustainable activities. The EU Taxonomy Regulation was borne out of a recognition that private capital would need to be mobilised and incentivised to support transition to a low carbon economy.
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