Brussels, 19 February 2019
The role of forest management in the upcoming taxonomy regulation for sustainable investments
In the context of the European Commission’s ongoing work on developing a classification system for sustainable investments1, the undersigned organisations would like to express their views on the topic of forest management in the proposed taxonomy regulation, notably on the first round of climate mitigation activities drawn up by the Commission’s Technical Expert Group on Sustainable Finance (TEG) .
The undersigned organisations welcome the fact that forest management activities have been included in the scope of the proposed regulation, which applies the definition of Sustainable Forest Management (SFM) that European countries and the European Commission agreed upon at the Ministerial Conference on the Protection of Forests in Europe and that was referred to in the 2013 EU Forest Strategy. Given the fact that the proposed taxonomy regulation also aims to define a set of criteria and that SFM contributes in many ways to several UN Sustainable Development Goals as well as the Paris Agreement goals, it is crucial that a holistic approach to forest management is applied while keeping in mind that forest policy is a competence of the EU Member States.
Sustainable and active forest management plays an important role in meeting EU climate and energy policy objectives, e.g. tackling climate change, improving energy security and promoting jobs and economic growth. SFM is needed to reach these targets. It provides three main climate benefits: CO2 sequestration in resilient, growing forests; carbon storage before and after harvesting; and a renewable and climate-friendly raw material that substitutes energy-intensive materials and fossil fuels. ….
Copy of the Joint Statement is available HERE.