ZEP responded to the call for feedback on the Platform on Sustainable Finance’s draft report on social taxonomy.
Developing a European CO2 infrastructure network is a no-regret investment opportunity. By developing such infrastructure, European industrial emitters can connect in a flexible and diffuse way to storage sites to decarbonise their industrial production, which is a key prerequisite to deliver a just and cost-efficient trajectory towards climate neutrality by 2050. The pathway towards climate neutrality will bring about a major transformation of energy-intensive industries. By providing a low-carbon, readily available and cost-efficient alternative, CCS can safeguard existing jobs, industrial activity and European industrial competitiveness in international markets while delivering sustainable growth.
For this reason, ZEP proposes to include and build on the aspect of climate urgency, referring to the vertical dimension of the social taxonomy and ‘Improving accessibility for Basic Economic Infrastructure’.