Industry welcomes EU recognition of sustainable hydropower

摘要

The European Commission has made changes to proposed investment criteria for hydropower as part of a new regulatory regime for sustainable finance, with the move welcomed by industry body the International Hydropower Association (IHA).The update to EU Taxonomy Climate Delegated Act, a classification system for environmentally sustainable economic activities, means it is now aligned with hydropower sector good practice requirements described in the Hydropower Sustainability ESG Gap Analysis Tool, compliance with which is necessary to secure green bond financing through the Climate Bonds Initiative. The update comes after IHA and other respondents raised concerns with the proposed requirements as originally drafted.