BayWa protests against EU taxonomy disadvantaging the renewables industry

BayWa AG, a conglomerate whose subsidiary BayWa r.e. AG is one of Europe’s largest renewable energy companies, has explicitly objected to the current plans for EU taxonomy in a specially circulated statement. It said the draft presented by the European Commission only covers parts of the value chain, while others, including in particular trade, are not taken into account and therefore cannot benefit from advantageous »green« financing instruments. »While nuclear and natural gas power plants, which are obviously not sustainable, are to be given a green cloak, the trade in solar modules and green electricity are not included in the taxonomy criteria,« said Baywa CEO Klaus Josef Lutz.

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