Australian Sustainable Finance Institute released the first draft of its technical screening criteria for a national sustainable finance taxonomy today. The draft covers three sectors - energy, built environment and mining, metals and minerals. At first glance, it is most welcome that the taxonomy takes a stance on: - CCS: "electricity generation via abated fossil fuels is currently out of scope as an activity in the transition methodology due to the low technological readiness level of carbon capture and storage." - Nuclear energy: "Given the legal context, there is no case to include nuclear power generation in the taxonomy at this point in time." - Gas firming: "gas firming is not [currently] in scope at an activity level" I'll be engaging with the market in coming weeks to identify and collate stakeholder feedback regarding the credibility and usability of this taxonomy. If you would like to share your thoughts/concerns and learn from what others are saying, please drop me a DM. This public consultation process will run until 9:00pm Sunday 30 June 2024 (AEST). https://lnkd.in/gtewdX8V Investor Group on Climate Change (IGCC) Responsible Investment Association Australasia (RIAA) Australian Council of Superannuation Investors
Hi Nishtha, a key question not asked or even debated as a key point is on terminology. Has ASFI committee not read ACCC guidelines on greenwashing? The whole notion of defining a category “green” is nonsensical and does not add weight to ‘credibility’.. The definition is about “low emissions” That’s the right term, call it that. Recommend the removal of ALL uses of “green” title narratives.
Wow. Could Australia be the first to exclude abated fossil fuels and gas firming from sustainable finance taxonomy??? Impressive.
sustainable finance | carbon abatement | systems evolution
4mo