The battle over sustainability requirements in the European Union is increasing

Energy Minister Anders Egeman (S) and his colleagues in Slovenia, Finland, Estonia, Latvia, Lithuania, Poland, Hungary, Slovakia and the Czech Republic published the text in a letter to the European Commission.

This relates to the proposal for which projects and types of energy are to be classified as sustainable and green for fund managers and others to invest in, the so-called rating. The idea is that it will drive climate change by directing capital to sustainable projects.

The danger of the wording in the proposal is that the energy that will be central to the green transition will be more difficult to finance. Consequently, they run the risk of not being dumped, says Anders Eggman, who is said to have taken the initiative for the message.

What is intended as an environmental measure risks instead of delaying the green transition, he fears.

Great request

In the letter, the ten requests that bioenergy meeting sustainability criteria according to the European Union Renewable Energy Directive be classified as sustainable in the classification. They think the proposal should be rewritten.

Last week, Prime Minister Stefan Leuven sparked Sweden’s harsh criticism of the rating in one-on-one meetings with EU Commission President Ursula von der Leyen and Commission Vice President Frans Timmermans, who is in charge of the EU’s green change.

What information Leuven may have received there and whether the committee is listening is unclear.

If I had been sure of success, I wouldn’t have sent the message, says Anders Lygman.

Threatens forest conditions

Sweden places special emphasis on the fact that large parts of the Swedish forest could be left without a green rating, if the suggestion stands. This affects prospects for obtaining loans on good terms for investments in bioenergy, for example, biofuels from forest raw materials to offset fossil fuels.

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The commission will submit a final proposal by the end of March, with the aim of making a decision in April. After that, the odds of changing or stopping the suggestion are small.

Correction: In the previous version, wrong number of countries were identified behind the message.

Lars Larson / TT

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