Commission approves Orgalim proposal on extending scope of E...

Commission approves Orgalim proposal on extending scope of EU Taxonomy

We welcome the European Commission's decision to formally approve Orgalim's proposal to include 'energy efficiency in industrial processes' as a new environmentally sustainable economic activity in the EU Taxonomy.

Orgalim developed the proposal as part of our work on the EU Platform on Sustainable Finance, an advisory body and expert group of the European Commission. Orgalim is represented there by our member Andreas Brunsgaard from Danish Industry, who is also Chair of Orgalim's Corporate Sustainability Task Force.

Now that the proposal has been accepted, the Platform has been mandated to work on the technical details.

It is excellent news for Orgalim members that 'energy efficiency in industrial processes' will be a new economic activity in the scope of EU Taxonomy as it will make investments for companies active in this area easier. Indeed, the goal of the EU taxonomy, at the heart of the EU's sustainable finance agenda, is to incentivise financial flows towards economic sectors and activities that are in line with climate change and environmental objectives.

Orgalim supports the EU taxonomy framework as a tool to bridge the huge investment gaps that currently exist.

The inclusion of 'Energy efficiency in industrial processes' was the only proposal from the Platform on Sustainable Finance for new economic activities to be included in the EU Taxonomy that was accepted by the European Commission.

It is an important policy win for our industries as it was one of our key asks to policymakers for accelerating a competitive path to net-zero. As highlighted in Orgalim's policy agenda, Delivering the net-zero transformation, Orgalim has long urged policymakers to maximise access to private financing for the manufacturing industries, notably by including enabling technologies in the EU Taxonomy. Equipment optimising energy efficiency in industrial processes in particular is a key example of enabling technologies that are critical to the net-zero transition because they can bring significant energy savings in the industry sector and contribute to climate change mitigation. We have published a series of examples portraying innovative enabling technologies made by Orgalim industries.