EU Updates - September
UN Biodiversity Conference (COP15) Postponed
On 18th August, the United Nations partially pushed back the Biodiversity Conference (COP15) to Spring 2022. The Conference of the Parties, originally scheduled to take place in October 2020, was first postponed until May, then October, as a result of the coronavirus pandemic.
The conference will be held in two parts. An initial meeting will take place between 11-15 October 2021 in a hybrid format with limited onsite presence and a high-level ministerial segment. Negotiations will then continue next year, with the aim of reaching a deal during the in-person summit held from April 25 to May 8 in the Chinese city of Kunming.
The pressure is mounting as world leaders are expected to agree on a new global framework to reverse biodiversity loss by 2050, after none of the targets set in 2010 were fully achieved. Last month, the secretariat of the U.N. Convention on Biological Diversity, in charge of the talks, presented a first draft of the global agreement.
The draft text proposes:
The protection of “at least 30 percent” of the world’s land and seas, and the restoration of “at least 20 percent of degraded freshwater, marine and terrestrial ecosystems” and halving the rate of introduction of invasive alien species by 2030.
A target to “reduce pollution from all sources to levels that are not harmful to biodiversity and ecosystem functions and human health, including by reducing nutrients lost to the environment by at least half, and pesticides by at least two thirds and eliminating the discharge of plastic waste” by 2030.
The reduction of waste “by at least half and, where relevant the overconsumption, of food and other materials” globally within the decade.
The reduction of subsidies that are harmful to biodiversity “by at least US$ 500 billion per year” and increase financial resources for biodiversity protection to “at least US$ 200 billion per year.” Financial aid to developing countries should be boosted by “at least US$ 10 billion per year” to help them reach the global biodiversity targets.
European Commissioner for the Environment Virginijus Sinkevičius has warned the draft deal lacks ambition in its current form. The document was discussed by national delegations at the meeting on 23rd August.
Call for Feedback for Technical Screening Criteria for the EU Taxonomy
On 3rd August, the Platform on sustainable finance has opened a call for feedback on the proposed preliminary recommendations included in the draft report on the technical screening criteria (TSC) for the 6 environmental objectives set out in the Taxonomy Regulation. Stakeholders have time until the 24th September 2021 to submit their feedback.
The document focuses primarily on presenting a first set of priority economic activities and draft recommendations for associated substantial contribution and do no significant harm (DNSH) technical screening criteria in relation to the 4 non-climate environmental objectives covering water, circular economy, pollution prevention, and biodiversity & ecosystems. However, a small number of economic activities and corresponding draft recommendations for technical screening criteria related to the climate mitigation and adaptation objectives have also been included.
The draft criteria are presented to gather feedback and evidence from a wider set of stakeholders, to improve the draft criteria and make them more robust and usable in view of the final report to be presented to the European Commission in November 2021.
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Commission Adopts New Guidance on How to Climate-Proof Future Infrastructures
On 29th of July, the European Commission released the new technical guidance on climate-proofing of infrastructure projects. Climate change can have harsh repercussions on infrastructures with long lifetimes such as railways, bridges, or power stations. For instance, heat tolerance for railway tracks needs to be accounted for and aligned to the projected higher maximum temperature rather than historical values. It is therefore essential to clearly identify – and consequently to invest in – infrastructures for a climate-neutral and climate-resilient future.
With the technical guidance, the Commission sets out common principles and practices for the identification, classification, and management of physical climate risks when planning, developing, executing, and monitoring infrastructure projects and programmes. In other words, public and private European investors will be able to make informed decisions on projects that are compatible with the Paris Agreement and the EU climate objectives.
The process is divided into two pillars - mitigation and adaptation - and two phases- screening and detailed analysis. For infrastructure with a lifespan beyond 2050, the guidance stipulates that the operation, maintenance, and final decommissioning of any project should be carried out in a climate-neutral way, which may include circular economy considerations, such as the recycling or repurposing of materials. The climate resilience of new infrastructure projects should be ensured through adequate adaptation measures, based on a climate risk assessment.
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