Summary
Cefic notes that implementing and mainstreaming the EU Taxonomy is not a linear process and will require a supportive and well-designed regulatory framework that minimizes uncertainty, ensures comparability and safeguards competitiveness. This position paper outlines 10 recommendations for the European Commission's draft delegated act concerning the first two environmental objectives of the EU Taxonomy Regulation.
Cefic Recommendations:
- Thresholds must be gradual, supportive and considerate of external circumstances – Gradual Thresholds and Flexibility.
- Use of EU ETS benchmarks must be consistent with regulation while also considering limitations.
- Further development of chemical recycling.
- Support for the development of a bioeconomy.
- Transport and Storage of CO2.
- Life-Cycle Analysis and Third-Party Verification.
- Consideration of unique circumstances for Research, Development & Innovation.
- Greater clarity of key terms to avoid inconsistent application.
- Consistency across different economic activities.
- Proper application of existing legislation and principles of Better Regulation.
