Together with a group of 16 trade associations and companies ZVEI calls on EU decision makers to recognise the key enabling role of electrical and industrial solutions for reaching the ambitious climate goals by 2030 and 2050. An EU classification system of sustainable activities (EU taxonomy) should indeed properly cover the full chain of electrical manufacturing incl. systems and industrial automation equipment.
The EU has acted by adopting ambitious climate goals. Still, sustainable finance falls significantly short of the investment needs required to realise the climate and environmental goals of the EU. The EU taxonomy will hopefully be a game changer, by not only directing private finance to truly environmentally sustainable activities and avoiding potential greenwashing but also accelerating the climate transition that we desperately need for our societies. In this race against climate change, it is of utmost importance to identify and consider all enablers and levers that could support our decarbonisation objectives.
Despite some good progress, we believe the EU taxonomy still does not adequately address the role enabling activities play in facilitating lasting and effective decarbonisation. In particular, the contribution of electrical equipment, mechanical engineering technologies, and industrial solutions is not properly recognised. They should therefore be addressed as a top priority by the EU Taxonomy. We need to build up a comprehensive approach to the EU taxonomy.