IOGP Initial Feedback to the Taxonomy: Final report of the Technical Expert Group on Sustainable Finance

This document provides IOGP’s initial feedback to the Taxonomy, “Final report of the Technical Expert Group on Sustainable Finance”.

Key Points

The EU Taxonomy should be inclusive and allow all sectors and technologies/activities that can contribute to the energy transition to be part of the solution. To meet EU targets, it will be necessary for all economic sectors to lower their carbon emissions. Therefore, all sectors should have the ability to be recognised for decarbonisation efforts within the scope of the Taxonomy.

Natural gas should be recognised for the enabling and transition role that it can play alongside renewables in the energy transition.

CCS is a key technology to reach the EU carbon neutrality objective by 2050.

IOGP supports the classification of manufacturing of hydrogen as an environmentally sustainable activity. All forms of clean hydrogen need to be recognised in the manufacturing of products as these thresholds are further developed.