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The study titled "EU Taxonomy: Evaluating the Market-Readiness of the EU Taxonomy Criteria for Buildings" is a collaborative effort published by Green Building Councils from Germany (DGNB), Spain (GBCe), Denmark (DK-GBC), and Austria (ÖGNI). It brings together insights from 23 financial and real estate organizations, applying the EU Taxonomy criteria to 62 real building case studies across Europe. The authors include notable experts such as Dr. Anna Braune, Seema Issar, and Dr. Christine Lemaitre, among others, contributing their knowledge to this critical analysis of sustainability in the construction sector.
Understanding the EU Taxonomy
The EU Taxonomy serves as a classification system aimed at guiding sustainable investments by defining criteria for economic activities that significantly contribute to climate change mitigation and adaptation. This study specifically evaluates the market-readiness of these criteria within the construction and real estate sectors, essential for aligning financial flows with sustainability goals.
Key Findings
- Market-Readiness: The study reveals that newly constructed buildings exhibit the highest eligibility for the Taxonomy criteria compared to building renovations and acquisition and ownership activities. Additionally, certified projects have a greater likelihood of meeting the eligibility requirements than non-certified ones.
- Data Challenges: A significant barrier identified is the availability and reliability of data necessary to demonstrate compliance with the Taxonomy criteria. Notably, data gaps are more pronounced for the Do No Significant Harm (DNSH) criteria than for climate change mitigation aspects.
Recommendations
The report provides several recommendations to enhance market-readiness:
- Digital Building Data: Establish centralized repositories for building data to improve both accessibility and reliability, facilitating compliance verification.
- Energy Performance Certificates (EPCs): Improve the quality and reliability of EPCs across EU member states to ensure accurate assessments of building performance.
- Portfolio Management: Promote strategic sustainability planning across building portfolios, leveraging certification systems like DGNB to guide improvements.
- Transitional Climate Action Roadmaps: Develop roadmaps consistent with Paris Agreement targets specifically for buildings under acquisition and ownership criteria.
The Role of Certification
The study emphasizes that certification systems such as DGNB can play a crucial role in facilitating compliance with EU Taxonomy criteria. These structured frameworks for sustainability assessment can assist stakeholders in navigating the complexities of sustainable building practices.
Feedback on Draft Delegated Act
Participants in the study expressed concerns regarding the ambitious nature of the proposed changes in the draft Delegated Act by the European Commission. They suggest that a balanced approach is necessary to ensure successful market uptake of these sustainability measures.
In summary, the study highlights the importance of robust data management practices and effective certification processes to enhance compliance with sustainability criteria in financial transactions related to buildings. This is essential for promoting sustainable housing across Europe, ensuring that investments align with climate goals.