Draft Taxonomy Regulation risks undermining the Renovation Wave

The EU Taxonomy defines what qualifies as a ‘green’ investment. The draft criteria would allow very weak renovations, with just 30% energy savings, to meet the taxonomy requirements.

To give investors a clear signal and make sure the Green Deal delivers its full social, economic and environmental potential, the Renovate Europe Campaign wrote to Executive Vice-President Frans Timmermans and Commissioner Kadri Simson, urging the Commission to raise the energy savings requirement to at least 60%.