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France wins recognition for nuclear in EU’s green hydrogen rules
The European Commission has been working on a set of rules to ensure green hydrogen uses only “additional” sources of renewable electricity, and after intense lobbying from Paris and Berlin, the EU executive adopted those rules on 10 February. Paris won recognition for low-carbon hydrogen produced from nuclear electricity.
French nuclear giant EDF buys massive Australian floating offshore wind project
EDF Renewables, a subsidiary of the French global energy player and nuclear giant EDF, has bought the Newcastle Offshore Wind (NOW) project, one of the biggest proposed offshore wind projects in Australia. The project will likely be developed in stages, said EDF – aligning with the progressive retirement of the region’s ageing coal fired power stations, most if not all of which will be closed within a decade.
Schneider Electric launches service for digital transformation in industry
Schneider Electric, a leader in the digital transformation of energy management and automation, is launching a new Industrial Digital Transformation service designed to help industrial companies accelerate the planning and execution of digital transformations. Companies will be able to use Schneider’s new service to achieve noticeable impact across a range of purposes, such as operational efficiency, sustainability and energy efficiency, optimization of assets, and cyber security.
French regulator calls for stricter standards for sustainable funds
The French Financial Markets Authority (AMF) has called on the European Union (EU) to tighten rules on labelling sustainable investment funds to prevent greenwashing, as reported by Reuters on February 13. Under the EU’s Sustainable Finance Disclosure Regulation (SFDR) effective from January 2023, sustainable funds that “promote environmental or social characteristics or a combination of those characteristics,” are classified as Article 8, and those “have sustainable investment as their objective” are classified as the more stringent Article 9. According to an AMF statement, the SFDR has not set minimum environmental impact requirements for Article 8 and 9 financial products, nor has it defined the concept of sustainable investment clearly, thus fueling greenwashing.