In addition to the use of climate-neutral energy and more investments in already low-carbon economic activities and sectors, the transition requires substantial reductions in greenhouse gas emissions in other economic activities and sectors for which there are no technologically and economically feasible low-carbon alternatives. WebPlastics help us protect the environment by reducing waste, lowering greenhouse gas emissions, and saving energy at home, at work, and on the road. If nothing done about this, the Earth will very soon run out of arable land to support crop cultivation and no longer have enough safe drinking water to support the rising global human population. (37)Directive 2008/50/EC of the European Parliament and of the Council of 21 May 2008 on ambient air quality and cleaner air for Europe (OJ L 152, 11.6.2008, p. 1). If water can carry away soil, it can also cause the runoff of pesticides and fertilizers that are applied in abundance to commercial crops, and of course the wastes of cattle and livestock. An Increased population intensifies impact on the environment as more individuals take up space, use resources, and generate waste. On 11 December 2019, the Commission published its communication on The European Green Deal. It is of particular importance that the Commission carry out appropriate consultations during its preparatory work, including at expert level, such as through the Platform and the Member State Expert Group on Sustainable Finance, and that those consultations be conducted in accordance with the principles laid down in the Interinstitutional Agreement of 13 April 2016 on Better Law-Making(64). (15)Council Directive 91/271/EEC of 21 May 1991 concerning urban waste water treatment (OJ L 135, 30.5.1991, p. 40). WebBrowse our listings to find jobs in Germany for expats, including jobs for English speakers or those in your native language. It is important to fully exploit the potential of the internal market to achieve those goals. When establishing and updating technical screening criteria for environmentally sustainable activities, the Commission should assess whether the establishment of those criteria would give rise to stranded assets or would result in inconsistent incentives, or would have any other adverse impact on financial markets. Loss of habitat, coupled with farming practises of using only a few strains genetically-engineered crop, has resulted in the endangerment of a disproportionately large number of plants and animal species in Canada. 1. Whereas, non-renewable resources are those that only exist in a fixed quality, and either takes up to millions of year to replace themselves or does not possess the ability to recyle themselves. Furthermore, air-borne pollutants such as carbon dioxide and methane also give rise to a whole new environmental problem, which is being known as Global Climate Change. The .gov means it's official. WebAdvanced Architectural Research PG Cert Faculty of the Built Environment | Bartlett School of Architecture In architecture, research and practice go hand in hand, with ground-breaking design inspiring great research and vice versa. 3. When implementing the procedures referred to in paragraph 1 of this Article, undertakings shall adhere to the principle of do no significant harm referred to in point (17) of Article 2 of Regulation (EU) 2019/2088. Air-borne pollutants include carbon dioxide, sulfur dioxide, and acid precipiation that can usually be found in the smoke fumes from factories and motor vehicles. For the criteria to be up to date, based on scientific evidence and input from experts as well as relevant stakeholders, the conditions for substantial contribution and significant harm should be specified with more granularity for different economic activities and should be updated regularly. Private sector experts should include representatives of financial and non-financial market participants and business sectors, representing relevant industries, and persons with accounting and reporting expertise. 2. AJIC covers key topics and issues in infection control and epidemiology.Infection control professionals, including physicians, nurses, and epidemiologists, rely on AJIC for peer-reviewed articles covering clinical topics as well as original research.As the official publication of the Association for Professionals in Infection The Journal of Hand Surgery publishes original, peer-reviewed articles related to the pathophysiology, diagnosis, and treatment of diseases and conditions of the upper extremity; these include both clinical and basic science studies, along with case reports.Special features include Review Articles (including Current Concepts and The The Commission shall adopt a delegated act in accordance with Article 23 to: supplement paragraph 1 of this Article by establishing technical screening criteria for determining the conditions under which a specific economic activity qualifies as contributing substantially to sustainable use and protection of water and marine resources; and. Looking for a flexible role? The potential capacity to contribute to those environmental objectives can vary across sectors, which should be reflected in those criteria. Technical screening criteria could require carrying out a life-cycle assessment where sufficiently practicable and where necessary. From this figure, it is easy to see that even if the current world population of 6.6 billion does not increase it consumtion per capita, we will still have to use up more resources to support this higher number of population. Furthermore, a lack of investor confidence has a major detrimental impact on the market for sustainable investment. (51)Directive 2009/125/EC of the European Parliament and of the Council of 21 October 2009 establishing a framework for the setting of ecodesign requirements for energy-related products (OJ L 285, 31.10.2009, p. 10). Financial market participants should be encouraged to inform the Commission if they consider that an economic activity that does not meet the technical screening criteria, or for which such criteria have not yet been established, should qualify as environmentally sustainable, in order to help the Commission in evaluating the appropriateness of complementing or updating the technical screening criteria. Assuming that everybody has to be fed, clothed, housed and hopefully supported by gainful employment. Some of the resources that are affected as a result of them are namely, fossil fuels, land, water, and minerals. (42)Regulation (EU) No 1143/2014 of the European Parliament and of the Council of 22 October 2014 on the prevention and management of the introduction and spread of invasive alien species (OJ L 317, 4.11.2014, p. 35). Furthermore, findings also concluded that there is a higher than 90 percent probability that human-produced greenhouse gases such as carbon dioxide, methane and nitrous oxide have caused much of the observed increase in Earths temperatures over the past 50 years. As a result of agricultural activities, Canada lost more than 85% of shortgrass prairie, 80% of mixed-grass prairie, 85% of aspen parkland and almost its entire native tallgrass prairie. According to British Petroleum the current world oil reserves stand at 1238 billion barrels. In particular, to ensure equal participation in the preparation of delegated acts, the European Parliament and the Council receive all documents at the same time as Member States experts, and their experts systematically have access to meetings of Commission expert groups dealing with the preparation of delegated acts. To prepare a piece of land for agricultural activities, the natural vegetation has to be first removed from it. Public-sector experts should include representatives of the European Environmental Agency, the ESAs, the European Investment Bank and the European Union Agency for Fundamental Rights. The Commission shall adopt the delegated act referred to in paragraph 2 by 31 December 2021, with a view to ensuring its application from 1 January 2023. In its communication of 20 June 2019 on Guidelines on non-financial reporting: Supplement on reporting climate-related information, the Commission recommends that certain large companies report on certain climate-related key performance indicators (KPIs) that are based on the framework established by this Regulation. 4. It can, for example, increase the durability, reparability, upgradability and reusability of products, or can reduce the use of resources through the design and choice of materials, facilitating repurposing, disassembly and deconstruction in the buildings and construction sector, in particular to reduce the use of building materials and promote the reuse of building materials. We're here to answer any questions you have about our services. The global campaign to gain control of plastic waste is one of the fastest-growing environmental causes ever mounted. In Cananda, manufacturing is the main economy in Quebec, it not only employs the most number of people, but also contribute the highest proportion of Quebecs GDP. other sustainability objectives, such as social objectives. To ensure that economic activities as referred to in Article 10(2) remain on a credible transition pathway consistent with a climate-neutral economy, the Commission shall review the technical screening criteria for those activities at least every three years and, where appropriate, amend the delegated act referred to in Article 10(3) in line with scientific and technological developments. Registered office: Creative Tower, Fujairah, PO Box 4422, UAE. "Citizen science" is defined as "scientific work undertaken by members of the general public, often in collaboration with or under the direction of professional scientists and scientific institutions". " These duties include the loss of ability to sustain soil biodiversity, crop cultivation, and the reduced effectiveness as a carbon sink. A good example to substantiate the direct impact a growing population would have on minerals would be the example on Spain. To give sufficient time to the relevant actors to familiarise themselves with the criteria for qualification as environmentally sustainable economic activities set out in this Regulation and to prepare for their application, the obligations set out in this Regulation should become applicable, for each environmental objective, 12 months after the relevant technical screening criteria have been established. In such cases, Member States would use their own national classification systems for the purposes of determining which investments qualify as sustainable. The Commission shall adopt the delegated act referred to in paragraph 3 by 31 December 2020, with a view to ensuring its application from 1 January 2022. Article 4 shall not apply to certificate-based tax incentive schemes that exist prior to the entry into force of this Regulation and that set out requirements for financial products that aim to finance sustainable projects. In such exceptional cases and only for those economic activities for which complete, reliable and timely information could not be obtained, financial market participants should be allowed to make complementary assessments and estimates on the basis of information from other sources. The following are some environmental issues that are either the direct or indirect impact of a rising global population: Depletion of natural resources refers to the over exploitation of the exhaustible group of natural resources. With such harmonisation, economic operators would find it easier to raise funding across borders for their environmentally sustainable activities, as their economic activities could be compared against uniform criteria in order to be selected as underlying assets for environmentally sustainable investments. While we all know that human activities were the cause of global climate changes, the main causes of the current global warming trend is actually the result of human expansion of greenhouse effect a process in which the heat leaving the Earth is being trapped by the greenhouse gases. According to the Intergovernmental Panel on Climate Change (IPPC), ever since the start of the industrial revolution, atmospheric carbon dioxide levels have rose from 280 parts per million to 379 parts per million in the last 150 years. Biodiversity may be defined as the variation of life forms within a given ecosystem, biome or the entire Earth. One element of the uniform criteria should be to avoid significant harm to any of the environmental objectives set out in this Regulation. The 2030 Agenda has at its core the Sustainable Development Goals (SDGs) and covers the three dimensions of sustainability: economic, social and environmental. Any reduction in the content of hazardous substances in materials and products throughout the life cycle, including by replacing them with safer alternatives, should, as a minimum, be in accordance with Union law. It not only erodes the living standards of the world population, results in poverty in already poor countries, affect a countrys economy, but most importantly has a negative impact on the Ecosystem. The definition of sustainable investment in Regulation (EU) 2019/2088 includes investments in economic activities that contribute to an environmental objective which, amongst others, should include investments into environmentally sustainable economic activities within the meaning of this Regulation. to over 6.6 billion in the 21st century. This group of resources comes in the form of renewable and non-renewable resources. 4. In that context, the technical screening criteria should promote appropriate governance frameworks integrating environmental, social and governance factors as referred to in the United Nations-supported Principles for Responsible Investment at all stages of a projects life cycle. However, what little know of is that the human population is only one of the several factors that affect the environment. The criteria for determining whether an economic activity qualifies as environmentally sustainable should be harmonised at Union level in order to remove barriers to the functioning of the internal market with regard to raising funds for sustainability projects, and to prevent the future emergence of barriers to such projects. A classification of environmentally sustainable economic activities at Union level should enable the development of future Union policies in support of sustainable finance, including Union-wide standards for environmentally sustainable financial products and the eventual establishment of labels that formally recognise compliance with those standards across the Union. 2. The Platform should advise the Commission on the development, analysis and review of technical screening criteria, including the potential impact of such criteria on the valuation of assets that qualify as environmentally sustainable assets under existing market practices. A remarkable increase from the current figure of 700 millions people. 3. New Opportunity Public Health AmeriCorps Funding Opportunity. WebCommon criteria for determining whether economic activities qualify as sustainable, including their impact on the environment, could underpin future similar initiatives of the Union to mobilise investment that pursues climate-related or other environmental objectives. Where a financial product as referred to in Article 9(1), (2) or (3) of Regulation (EU) 2019/2088 invests in an economic activity that contributes to an environmental objective within the meaning of point (17) of Article 2 of that Regulation, the information to be disclosed in accordance with Articles 6(3) and 11(2) of that Regulation shall include the following: the information on the environmental objective or environmental objectives set out in Article 9 of this Regulation to which the investment underlying the financial product contributes; and. Article 2(1)(c) of the Paris Agreement aims to strengthen the response to climate change by making finance flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development, among other means. increases the durability, reparability, upgradability or reusability of products, in particular in designing and manufacturing activities; increases the recyclability of products, including the recyclability of individual materials contained in those products, inter alia, by substitution or reduced use of products and materials that are not recyclable, in particular in designing and manufacturing activities; substantially reduces the content of hazardous substances and substitutes substances of very high concern in materials and products throughout their life cycle, in line with the objectives set out in Union law, including by replacing such substances with safer alternatives and ensuring traceability; prolongs the use of products, including through reuse, design for longevity, repurposing, disassembly, remanufacturing, upgrades and repair, and sharing products; increases the use of secondary raw materials and their quality, including by high-quality recycling of waste; prevents or reduces waste generation, including the generation of waste from the extraction of minerals and waste from the construction and demolition of buildings; increases preparing for the re-use and recycling of waste; increases the development of the waste management infrastructure needed for prevention, for preparing for re-use and for recycling, while ensuring that the recovered materials are recycled as high-quality secondary raw material input in production, thereby avoiding downcycling; minimises the incineration of waste and avoids the disposal of waste, including landfilling, in accordance with the principles of the waste hierarchy; enables any of the activities listed in points (a) to (k) of this paragraph in accordance with Article 16. supplement paragraph 1 of this Article by establishing technical screening criteria for determining the conditions under which a specific economic activity qualifies as contributing substantially to the transition to a circular economy; and. According to the most recent U.N. statistics, population has grown from several millions back in the B.C. (50)Directive (EU) 2018/844 of the European Parliament and of the Council of 30 May 2018 amending Directive 2010/31/EU on the energy performance of buildings and Directive 2012/27/EU on energy efficiency (OJ L 156, 19.6.2018, p. 75). This is usually done through habitat alteration such as, deforestation for urban cities surrounded by forest/mangroves, or land reclaimation for cities corteminous with islands. With oil production likely to increase by nearly 40% from 2006 to 2030; as a result of only the increasing world energy demand of 60%. Loss of native habitat in Canada due to farming has been significant. Those regulatory technical standards should be consistent with the content, methodologies, and presentation of the sustainability indicators in relation to adverse impacts as referred to in Regulation (EU) 2019/2088. supplement Article 17 by establishing, for each relevant environmental objective, technical screening criteria, for determining whether an economic activity in respect of which technical screening criteria have been established pursuant to point (a) of this paragraph causes significant harm to one or more of those objectives. (13)Directive 2008/56/EC of the European Parliament and of the Council of 17 June 2008 establishing a framework for community action in the field of marine environmental policy (Marine Strategy Framework Directive) (OJ L 164, 25.6.2008, p. 19). Get all the latest India news, ipo, bse, business news, commodity only on Moneycontrol. It had been found out that air emissions from the Inco steel smelter in Sudbury, Ontario were directly responsible for a significant portion of the acid rain in eastern North America. Article 3(3) of the Treaty on European Union aims to establish an internal market that works for the sustainable development of Europe, based, among other things, on balanced economic growth and a high level of protection and the improvement of the quality of the environment. As a first step, clear guidance on activities that qualify as contributing to environmental objectives would help inform investors about the investments that fund environmentally sustainable economic activities. Several of those international standards are enshrined the Charter of Fundamental Rights of the European Union, in particular the prohibition of slavery and forced labour and the principle of non-discrimination. The findings reveal that human activities such as agricultural activities, urbanisation, and manufacturing are the primary causes of the decline of biodiversity in Canada. When assessing an economic activity against the criteria set out in paragraph 1, both the environmental impact of the activity itself and the environmental impact of the products and services provided by that activity throughout their life cycle shall be taken into account, in particular by considering the production, use and end of life of those products and services. Advertisement. Urbanisation is being defined as the physical growth of urban areas as a result of global change. complies with technical screening criteria that have been established by the Commission in accordance with Article 10(3), 11(3), 12(2), 13(2), 14(2) or 15(2). the European Union Agency for Fundamental Rights; experts representing relevant private stakeholders, including financial and non-financial market participants and business sectors, representing relevant industries, and persons with accounting and reporting expertise; experts representing civil society, including persons with expertise in the field of environmental, social, labour and governance issues; experts appointed in a personal capacity, who have proven knowledge and experience in the areas covered by this Regulation; experts representing academia, including universities, research institutes and other scientific organisations, including persons with global expertise. Don't forget to give your feedback! In that context the Commission may invite experts with specific expertise on an ad hoc basis. Increased risk of inland flash floods; more frequent coastal flooding and increased erosion from storms and sea level rise; glacial retreat in mountainous areas; reduced snow cover and winter tourism; extensive species losses; reductions of crop productivity in southern Europe. Regarding economic activities carried out by undertakings that are not required to disclose information under this Regulation, there could be exceptional cases where financial market participants cannot reasonably obtain the relevant information to reliably determine the alignment with the technical screening criteria established pursuant to this Regulation. 1. Were committed to making sure your donation has the biggest possible impact for those in greatest need. As the global temperature rises, crop that used to grow best at certain temperature, will not be able to adapt, and will die off eventually. The provision in this Regulation referring to certificate-based tax incentive schemes that exist prior to the entry into force of this Regulation is without prejudice to the respective competences of the Union and the Member States with respect to tax provisions, as set out by the Treaties. The draft regulatory technical standards shall take into account the respective dates of application set out in points (a) and (b) of Article 27(2) of Regulation (EU) 2020/852 in respect of the environmental objectives set out in Article 9 of that Regulation. The ESAs shall, through the Joint Committee, develop draft regulatory technical standards to specify the details of the content and presentation of the information to be disclosed pursuant to paragraphs 1 and 2 of this Article.; 4. the long-term disposal of waste may cause significant and long-term harm to the environment; pollution prevention and control, where that activity leads to a significant increase in the emissions of pollutants into air, water or land, as compared with the situation before the activity started; or. 3. All work is written to order. October 28, 2022. The Platform should be composed of experts representing both the public and private sectors. An increased in the population residing there would lead to an increase in consumption of energy, food, water, domestic goods, and land. In addition, economic operators that wish to attract investment from across the Union would have to meet different criteria in different Member States in order for their activities to qualify as environmentally sustainable. The Paris Agreement adopted under the United Nations Framework Convention on Climate Change (the Paris Agreement) was approved by the Union on 5 October 2016(3). When developing the draft regulatory technical standards referred to in the first subparagraph of this paragraph, the ESAs shall take into account the various types of financial products, their objectives as referred to in paragraph 4a of this Article and the differences between them as well as the objective that disclosures are to be accurate, fair, clear, not misleading, simple and concise and, where necessary to achieve that objective, shall develop draft amendments to the regulatory technical standards referred to in paragraph 5 of this Article. 1. In order for urban sprawl to take place, surrounding areas adjoining the edge of the urban cities will have to be made ready. In Quebec, between 1990 and 1991, an impressive amount of 190 000 tonnes of nitrogen and 120 000 tonnes of phosphorus were applied to agricultural lands in the form fertilizers, or were present as livestock wastes. (6)Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability-related disclosures in the financial services sector (OJ L 317, 9.12.2019, p. 1). Some economic activities have a negative impact on the environment, and reducing such negative impact can make a substantial contribution to one or more environmental objectives. Connect with others and give back to your community. WebCBC archives - Canada's home for news, sports, lifestyle, comedy, arts, kids, music, original series & more. This model represents how the total impact on the enviroment results from the interaction among population, affluence and technoloy. More people means more demand for natural resources either mined or drilled from below the Earths surface to be burned for energy. Sustainability and the transition to a safe, climate-neutral, climate-resilient, more resource-efficient and circular economy are crucial to ensuring the long-term competitiveness of the Union economy. Where financial market participants make available a financial product as referred to in Article 6 of Regulation (EU) 2020/852 of the European Parliament and of the Council(*1), they shall include in the information to be disclosed pursuant to Article 6(1) and (3) of this Regulation the information required under Article 6 of Regulation (EU) 2020/852. Plastic packaging helps to dramatically extend the shelf life of fresh foods and beverages while allowing us to ship more product with less packaging materialreducing both food and packaging waste. According to the most recent U.N. statistics, population has grown from several millions back in the B.C. This document is an excerpt from the EUR-Lex website, Regulation (EU) 2020/852 of the European Parliament and of the Council of 18 June 2020 on the establishment of a framework to facilitate sustainable investment, and amending Regulation (EU) 2019/2088 (Text with EEA relevance), OJ L 198, 22.6.2020, p. 1343 We will in the following paragraphs look into what this is all about. We have all known for long that the human population is no doubt the chief contributor to environmental woes. 2. For the past 10, 000 years, the world has been experiencing a rapid increase in human population. The disclosure obligations laid down in this Regulation supplement the rules on sustainability-related disclosures laid down in Regulation (EU) 2019/2088 of the European Parliament and of the Council(6). Used by thousands of teachers all over the world. 2. We serve global communities of scholars, researchers, and teachers by publishing scholarship and research in subject areas across the arts & humanities, law, medicine & health, science & mathematics, and social On 25 September 2015, the UN General Assembly adopted a new global sustainable development framework: the 2030 Agenda for Sustainable Development (the 2030 Agenda). The Platform should be constituted in accordance with the applicable horizontal rules on the creation and operation of Commission expert groups, including with regard to the selection process. Power is delegated to the Commission to supplement this Regulation by adopting the regulatory technical standards referred to in the first subparagraph of this paragraph in accordance with Articles 10 to 14 of Regulations (EU) No 1093/2010, (EU) No 1094/2010 and (EU) No 1095/2010.; 4a. Agricultural is the production of goods and food through farming. For each environmental objective, uniform criteria for determining whether economic activities contribute substantially to that objective should be laid down. (49)Directive 2012/27/EU of the European Parliament and of the Council of 25 October 2012 on energy efficiency, amending Directives 2009/125/EC and 2010/30/EU and repealing Directives 2004/8/EC and 2006/32/EC(OJ L 315, 14.11.2012, p. 1). The six environmental objectives that this Regulation should cover are: climate change mitigation; climate change adaptation; the sustainable use and protection of water and marine resources; the transition to a circular economy; pollution prevention and control; and the protection and restoration of biodiversity and ecosystems. As the population gets the protection and restoration of biodiversity and ecosystems, where that activity is: significantly detrimental to the good condition and resilience of ecosystems; or. Medical organizations tend to classify people as obese based on body mass index (BMI) a ratio of a person's weight in kilograms to the square of their height in meters.For adults, the World Health Organization (WHO) defines "overweight" as a BMI 25 or higher, 3, Hagerstown, MD 21742; phone 800-638-3030; fax 301-223-2400. The Platform shall be chaired by the Commission and constituted in accordance with the horizontal rules on the creation and operation of Commission expert groups. Greenhouse gases include, water vapour, carbon dioxide, methane, nitirious oxide, and chlorofluorocarbons. Due to the unique nature of this sector of industry, many harmful pollutants are constantly being emited from its operations. Oxford Academic is the home of academic research from Oxford University Press (OUP), the world's largest university press. In the context of this Regulation, greenwashing refers to the practice of gaining an unfair competitive advantage by marketing a financial product as environmentally friendly, when in fact basic environmental standards have not been met. In that regard, the Commission should take into account relevant Union law, including Directives 2001/42/EC(59), 2011/92/EU(60), 2014/23/EU(61), 2014/24/EU(62) and 2014/25/EU(63) of the European Parliament and of the Council, standards and current methodology, as well as the work of international organisations, such as the OECD. 1. However, within each sector, those criteria should not unfairly disadvantage certain economic activities over others if the former contribute to the environmental objectives to the same extent as the latter. In the context of achieving the SDGs in the Union, policy choices such as the creation of a European Fund for Strategic Investment, have been effective in contributing to the channelling of private investment towards sustainable investments alongside public spending. For those economic activities, it is appropriate to establish technical screening criteria that require a substantial improvement in environmental performance compared with, inter alia, the industry average, but at the same time avoid environmentally harmful lock-in effects, including carbon-intensive lock-in effects, during the economic lifetime of the funded economic activity. Since the objectives of this Regulation cannot be sufficiently achieved by the Member States, but can rather, by reason of the need to introduce at Union level uniform criteria for environmentally sustainable economic activities, be better achieved at Union level, the Union may adopt measures, in accordance with the principle of subsidiarity as set out in Article 5 of the Treaty on European Union. With 64 out of 105 developing countries studied by the UN Food and Agriculture Ogranisation seeing their population growing at a speed faster than the food supplies, the increase in agricultural activities worldwide is imminent. Additionally, investors would invest in environmentally sustainable financial products across the Union with higher confidence, thereby improving the functioning of the internal market. A Member State Expert Group on Sustainable Finance (the Member State Expert Group) shall advise the Commission on the appropriateness of the technical screening criteria and the approach taken by the Platform regarding the development of those criteria in accordance with Article 19. When developing the draft regulatory technical standards referred to in the first subparagraph of this paragraph, the ESAs shall take into account the various types of financial products, their characteristics and the differences between them, as well as the objective that disclosures are to be accurate, fair, clear, not misleading, simple and concise and, where necessary to achieve that objective, shall develop draft amendments to the regulatory technical standards referred to in paragraph 3 of this Article. ABOUT US; SPONSORED CONTENT; Older Press Releases. (29)Directive (EU) 2019/883 of the European Parliament and of the Council of 17 April 2019 on port reception facilities for the delivery of waste from ships, amending Directive 2010/65/EU and repealing Directive 2000/59/EC (OJ L 151, 7.6.2019, p. 116). WebUrban sprawl (also known as suburban sprawl or urban encroachment) is defined as "the spreading of urban developments (such as houses and shopping centers) on undeveloped land near a city." 4. Gradual replacement of tropical forest by savannah in eastern Amazonia; risk of significant biodiversity loss through species extinction in many tropical areas; significant changes in water availability for human consumption, agriculture and energy generation. To add insult to injury, the level of water table will also decline as deterioted land can no longer allow water to penetrate throught it. be easy to use and be set in a manner that facilitates the verification of their compliance. In that context, on 12 December 2019, the European Council adopted conclusions on climate change. Those transitional economic activities should qualify as contributing substantially to climate change mitigation if their greenhouse gas emissions are substantially lower than the sector or industry average, they do not hamper the development and deployment of low-carbon alternatives and they do not lead to a lock-in of assets incompatible with the objective of climate-neutrality, considering the economic lifetime of those assets. Transparency of financial products that promote environmental characteristics in pre-contractual disclosures and in periodic reports. (22)European Parliament and Council Directive 94/62/EC of 20 December 1994 on packaging and packaging waste (OJ L 365, 31.12.1994, p. 10). 1. According to the Organisation for Economic Co-operation and Development, If current trends continue, 90 percent of freshwater supplies will disappear by 2030. It has been found that such practices discourage investors from investing in environmentally sustainable financial products. WebComments. 1. Requirements for marketing financial products or corporate bonds as environmentally sustainable investments, including requirements set by Member States and the Union to allow financial market participants and issuers to use national labels, aim to enhance investor confidence and awareness of the environmental impact of those financial products or corporate bonds, to create visibility and to address concerns about greenwashing. Study for free with our range of university lectures! (54)Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC (OJ L 331, 15.12.2010, p. 84). As all of these activities each demand a certain type of natural resources and energy to support them, an increase in human activities would equate to an increase in demand for these natural resources. As a result, the consumption of concrete has also increased by a wide margin of 120 % since 1996, reaching a level of 51.5 million tons in 2005. 3. An economic activity should qualify as contributing substantially to one or more of the environmental objectives set out in this Regulation where it directly enables other activities to make a substantial contribution to one or more of those objectives. (20)Regulation (EC) No 1907/2006 of the European Parliament and of the Council of 18 December 2006 concerning the Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH), establishing a European Chemicals Agency, amending Directive 1999/45/EC and repealing Council Regulation (EEC) No 793/93 and Commission Regulation (EC) No 1488/94 as well as Council Directive 76/769/EEC and Commission Directives 91/155/EEC, 93/67/EEC, 93/105/EC and 2000/21/EC (OJ L 396, 30.12.2006, p. 1). The absence of uniform criteria would therefore increase costs and significantly disincentivise economic operators from accessing cross-border capital markets for the purposes of sustainable investment. Member States shall ensure that their competent authorities have all the necessary supervisory and investigatory powers for the exercise of their functions under this Regulation. (31)Council Directive 1999/31/EC of 26 April 1999 on the landfill of waste (OJ L 182, 16.7.1999, p. 1). The real demand for oil is believed to be much more higher. Soil erosion renders an area barren and unsuitable for plants that were initially growing there. They should also be consistent with the principles enshrined in the European Pillar of Social Rights, the OECD Guidelines for Multinational Enterprises, the UN Guiding Principles on Business and Human Rights, including the ILO Declaration on Fundamental Principles and Rights at Work, the eight fundamental conventions of the ILO and the International Bill of Human Rights. (28)Directive 2012/19/EU of the European Parliament and of the Council of 4 July 2012 on waste electrical and electronic equipment (WEEE) (OJ L 197, 24.7.2012, p. 38). For the purposes of point (b) of Article 3, taking into account the life cycle of the products and services provided by an economic activity, including evidence from existing life-cycle assessments, that economic activity shall be considered to significantly harm: climate change mitigation, where that activity leads to significant greenhouse gas emissions; climate change adaptation, where that activity leads to an increased adverse impact of the current climate and the expected future climate, on the activity itself or on people, nature or assets; the sustainable use and protection of water and marine resources, where that activity is detrimental: to the good status or the good ecological potential of bodies of water, including surface water and groundwater; or. Prior to adopting the delegated act referred to in paragraph 2 of this Article, the Commission shall consult the Platform referred to in Article 20 regarding the technical screening criteria referred to in paragraph 2 of this Article. in respect of the environmental objectives referred to in points (c) to (f) of Article 9 of Regulation (EU) 2020/852, by 1 June 2022. In the twenty years spanning 1971 to 1991, the total area of the Montreal Urban Community increased from 2674 km2 in 1971 to 3509 km2, the Quebec City area increased from 907 km2 to 3150 km2, and the Sherbrooke and Trois-Rivieres became classified as urban centers. In Quebec, it is estimated that 3.4 million tonnes of soil per year are eroded by water. On Earth, the composition of natural greenhouse has been constantly altered by human activities. 1.4 Methodology. If those national labelling schemes or requirements use different criteria to determine which economic activities qualify as environmentally sustainable, investors would be discouraged from investing across borders due to difficulties in comparing different investment opportunities. 3. (57)Commission Recommendation 2013/179/EU of 9 April 2013 on the use of common methods to measure and communicate the life cycle environmental performance of products and organisations (OJ L 124, 4.5.2013, p. 1). For the purposes of this Regulation, the following definitions apply: environmentally sustainable investment means an investment in one or several economic activities that qualify as environmentally sustainable under this Regulation; financial market participant means a financial market participant as defined in point (1) of Article 2 of Regulation (EU) 2019/2088 and includes a manufacturer of a pension product to which a Member State has decided to apply that Regulation in accordance with Article 16 of that Regulation; financial product means a financial product as defined in point (12) of Article 2 of Regulation (EU) 2019/2088; issuer means an issuer as defined in point (h) of Article 2 of Regulation (EU) 2017/1129 of the European Parliament and of the Council(69); climate change mitigation means the process of holding the increase in the global average temperature to well below 2 C and pursuing efforts to limit it to 1,5 C above pre-industrial levels, as laid down in the Paris Agreement; climate change adaptation means the process of adjustment to actual and expected climate change and its impacts; greenhouse gas means a greenhouse gas listed in Annex I to Regulation (EU) No 525/2013 of the European Parliament and of the Council(70); waste hierarchy means the waste hierarchy as laid down in Article 4 of Directive 2008/98/EC; circular economy means an economic system whereby the value of products, materials and other resources in the economy is maintained for as long as possible, enhancing their efficient use in production and consumption, thereby reducing the environmental impact of their use, minimising waste and the release of hazardous substances at all stages of their life cycle, including through the application of the waste hierarchy; pollutant means a substance, vibration, heat, noise, light or other contaminant present in air, water or land which may be harmful to human health or the environment, which may result in damage to material property, or which may impair or interfere with amenities and other legitimate uses of the environment; soil means the top layer of the Earths crust situated between the bedrock and the surface, which is composed of mineral particles, organic matter, water, air and living organisms; the direct or indirect introduction of pollutants into air, water or land as a result of human activity; in the context of the marine environment, pollution as defined in point 8 of Article 3 of Directive 2008/56/EC; in the context of the water environment, pollution as defined in point 33 of Article 2 of Directive 2000/60/EC; ecosystem means a dynamic complex of plant, animal, and micro-organism communities and their non-living environment interacting as a functional unit; ecosystem services means the direct and indirect contributions of ecosystems to the economic, social, cultural and other benefits that people derive from those ecosystems; biodiversity means the variability among living organisms arising from all sources including terrestrial, marine and other aquatic ecosystems and the ecological complexes of which they are part and includes diversity within species, between species and of ecosystems; good condition means, in relation to an ecosystem, that the ecosystem is in good physical, chemical and biological condition or of a good physical, chemical and biological quality with self-reproduction or self-restoration capability, in which species composition, ecosystem structure and ecological functions are not impaired; energy efficiency means the more efficient use of energy at all the stages of the energy chain from production to final consumption; marine waters means marine waters as defined in point 1 of Article 3 of Directive 2008/56/EC; surface water means surface water as defined in point 1 of Article 2 of Directive 2000/60/EC; groundwater means groundwater as defined in point 2 of Article 2 of Directive 2000/60/EC; good environmental status means good environmental status as defined in point 5 of Article 3 of Directive 2008/56/EC; for surface water, having both good ecological status as defined in point 22 of Article 2 of Directive 2000/60/EC and good surface water chemical status as defined in point 24 of Article 2 of that Directive; for groundwater, having both good groundwater chemical status as defined in point 25 of Article 2 of Directive 2000/60/EC and good quantitative status as defined in point 28 of Article 2 of that Directive; good ecological potential means good ecological potential as defined in point 23 of Article 2 of Directive 2000/60/EC.

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