By Reuters Staff
3 Min Read
OSLO (Reuters) - The European Commission should simplify its proposed criteria for measuring the sustainability of hydropower projects to avoid harming the industry’s access to capital, the Norwegian government said on Friday.
FILE PHOTO: European Union flags flutter outside the European Commission headquarters in Brussels, Belgium, December 13, 2020 REUTERS/Yves Herman
Hydropower is the backbone of the Norwegian energy system with an 87% share of domestic electricity consumption and although Norway is not a member of the European Union, the bloc’s regulations impact its economy.
In November, the Commission published a proposal for its financial taxonomy, a system of classifying activities that can be marketed as sustainable, and which acts as a powerful funding tool for achieving climate change objectives.
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Norway urges EU to revise plan risking hydropower’s green status SweetCrude Reports
European Union
Oslo The European Commission should simplify its proposed criteria for measuring the sustainability of hydropower projects to avoid harming the industry’s access to capital, the Norwegian government said on Friday.
Hydropower is the backbone of the Norwegian energy system with an 87% share of domestic electricity consumption and although Norway is not a member of the European Union, the bloc’s regulations impact its economy.
In November, the Commission published a proposal for its financial taxonomy, a system of classifying activities that can be marketed as sustainable, and which acts as a powerful funding tool for achieving climate change objectives.
Norway urges EU to revise plan risking hydropower s green status reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
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