UCD Business faculty raise alarm on new EU proposal which lists fossil fuels as sustainable finance
A group of scientists led by UCD College of Business faculty Theodor Cojoianu, Andreas Hoepner, Fabiola Schneider, and Joeri Rogelj from Imperial College London, have warned that the new proposal drafted by the European Commission suggests that fossil gas does no harm to the environment, and therefore could be included as sustainable finance under the EU Taxonomy.
The group of scientists argues that the new proposal directly opposes climate science and is firmly against the recommendations of the Commission’s Technical Expert Group. The group goes further to state that the proposal caves to the demands of the gas lobby.
The letter contains 226 signatories from universities around the globe.
The open letter is addressed to EU Commission President Ursula von der Leyen, Vice President of the European Commission Frans Timmermans, Executive Vice President of the European Commission for an Economy Valdis Dombrovskis and European Commissioner for Financial Stability, Financial Services and the Capital Markets Union Mairead McGuinness.