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22. April 2021

News

Taxonomy requirements are welcome

The new taxonomy requirements from the European Commission can be an advantage to Danish shipping. That is the assessment of Danish Shipping who will try to impact the criteria for a better fit into a maritime reality.

In future it will be easier for investors to choose green and climate-friendly projects when investing their money.

This is clear after the European Commission’s presentation of its comprehensive package on how to make green investments (taxonomy). The aim is to give investors a greater incentive to make investments that in one way or another contribute to achieving EU’s climate goal. At the same time, stricter requirements to non-financial reporting are planned.

Danish Shipping, who has long fought for shipping being recognized as a green investment and thereby included in EU’s Taxonomy, is very pleased with the proposal.

“We look forward to taking a closer look at the comprehensive material during the next couple of days, but overall we can already now say that we appreciate that shipping’s frontrunners will now be considered green although the conditions are very narrow. That is part of similar rules in Europe in order to give investors a greater incentive to put their money in climate-friendly and sustainable projects which are part of EU’s Green Deal”, says Jens Valdemar Krenchel, head of Danish Shipping’s Brussels Representation.

As Danish shipping companies in general are far ahead in terms of setting ambitious goals for their green transition and with energy efficient projects, the assessment of Danish Shipping’s Brussels Representation is that the new taxonomy rules can be an advantage to Danish shipping.

“In the coming time, we will focus on trying to leave our mark on the revision of criteria which determine whether you are considered “green” or not, so it will be more in line with the maritime reality. Overall, it is important that shipping has been included in the new scheme so there is access to financing under the best possible terms,” says Jens Valdemar Krenchel.

The final entry into force of the new rules are yet to be announced.