On 21 April 2021 the European Commission adopted its much-anticipated sustainable finance package as part of its overarching Green Deal policy to help direct capital towards sustainable activities across the European Union. By enabling investors to steer investments towards more sustainable technologies and businesses, the ‘April Package’ intends to help the European Union reduce its greenhouse gas emissions by at least 55 percent by 2030 and reach its 2050 carbon neutrality goal. Being the first entity on a global stage adopting such a comprehensive set of measures, the EU will be a world leader in setting future standards for sustainable finance.
ZVEI supports the European Commission's efforts to make greenwashing more difficult and to define clear criteria for green investments. Yet, such an approach should be science-based and be technology-neutral to the extent possible. Given that electrical manufacturing provides enabling solutions that ultimately lead to a significant contribution to achieving the EU’s climate and energy goals, the newly created taxonomy should explicitly list electrical manufacturing as a sustainable activity contributing to climate and environmental objectives.
Amongst others, the package is comprised of the following dossiers with relevance for the electronics industry:
In the context of the next 26th UN Climate Change Conference (COP26) in Glasgow, countries are setting ambitious climate targets, and there is an increased appetite for sustainable finance as well as a growing focus on the global convergence of standards – we clearly need a reliable framework for investments in low-CO2 technologies. The creation of a classification system will effectively set (global) standards as to what is regarded as sustainable and what is not.