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  4. Taxonomy Regulation as a New Instrument for the Sustainable Management of the Forest Environment in Europe
 
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Taxonomy Regulation as a New Instrument for the Sustainable Management of the Forest Environment in Europe

Type
Journal article
Language
English
Date issued
2024
Author
Brożek, Jarosław
Kożuch, Anna
Wieruszewski, Marek 
Jaszczak, Roman 
Adamowicz, Krzysztof 
Faculty
Wydział Leśny i Technologii Drewna
PBN discipline
forestry
Journal
Sustainability
ISSN
2071-1050
DOI
10.3390/su16208799
Web address
https://www.mdpi.com/2071-1050/16/20/8799
Volume
16
Number
20
Pages from-to
art. 8799
Abstract (EN)
Regulation (EU) 2020/852 of the European Parliament, also known as the Taxonomy Regulation, facilitates environmentally sustainable investments. It is part of the concept of the European Green Deal and a ‘tool’ for financial institutions, enterprises, and investors, facilitating the assessment of the environmental impact of a particular project. The Regulation contains the criteria an activity must meet to be considered environmentally sustainable. The role of the Taxonomy Regulation is to enable the flow of public and private capital towards ecological and sustainable activities. The document does not need to be implemented into the legal order of individual EU member-states, which results in its direct application. The main financial instruments enabling the achievement of the goals of the Taxonomy Regulation may be green bonds and other forms of capital raising by entrepreneurs and forest ownership structures. The assumption of the Regulation is to achieve the principles of sustainable environmental activity when spending funds obtained from private investors. It is an issue of key significance to identify the areas of management and financial accounting in the operational activities of forest enterprises that can be qualified for the Taxonomy Regulation. Forestry activities, including the processes mentioned therein, the objectives of the New EU Forest Strategy, and the LULUCF Regulation, are to play an essential role in reducing greenhouse gas emissions. The role of forestry in the supply chain in its broad sense is also considered. Forestry and forest management can receive capital for sustainable development due to the threat resulting from exclusions that strengthen the protective function of the forest (the protection of biodiversity). These processes will occur at the expense of production and numerous social functions.
Keywords (EN)
  • forestry

  • taxonomy

  • financing

  • CO2 emission

  • sustainable development

License
cc-bycc-by CC-BY - Attribution
Open access date
October 11, 2024
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