Political deals tarnish Taxonomy’s claim to science-based objectivity

Gas cogeneration heat plant from Alamy 25Mar21 575x375
By Jon Hay
25 Mar 2021

The polite world of sustainable finance has collided with the ugly reality of politics in the past week, as open strife has broken out over the European Union’s sustainable finance legislation, especially the Taxonomy. Conservative and progressive elements are battling over a host of issues, above all whether gas power should ever be classed as sustainable, and the validity and even legality of the Taxonomy is being called into question.

"It's a completely political discussion. Science has nothing to do with it," said Sébastien Godinot, economist at the European policy office of WWF, who has advised the EC on the Taxonomy and is a member of the Platform on Sustainable Finance, the body supposed to oversee the Taxonomy ...

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