On December 18, Northern Sparsely Populated Areas (NSPA) adopted a position on the proposed EU classification system for green investments (taxonomy). The position focuses on the proposed delegated regulation on a climate change mitigation and adoption taxonomy, presented by the European Commission in November 2020.
Sustainable forestry crucial to achieve climate neutrality by 2050
NSPA welcomes the EU initiative to stimulate sustainable investments. However, the current proposal may complicate investments in renewable energy sources, of great importance for the development in the NSPA area. Active and sustainable forestry is crucial to EU's green transition efforts and should be defined as sustainable. The NSPA opposes that the criteria of the delegated act - as NSPA perceives it - define all active forestry as a something negative from a climate perspective. The NSPA also calls for that the carbon balance should not be calculated based on individual forest stock, nor over a short period of time.
A synchronised taxonomy with other EU climate and environmental legislation
Another topic of concern are investments in bioenergy. Bioenergy from forest biomass is one of the foundations of NSPA energy systems and crucial for the green transition within the EU. The NSPA questions that bioenergy and biofuels are designated as a transition technology in the delegated act, which contradicts the Renewable Energy Directive (RED II) which emphasises the importance of bioenergy for our energy supply. The NSPA calls for that the taxonomy should be synchronised with other EU level climate and environmental legislation. That includes the RED II but also the Water Framework Directive for hydropower criteria.
Read the position on EU's taxonomy by NSPA here.