The client is a fund manager specialising in global renewable energy investments that support the green transition. The client's objective was to put in place a set of guidance notes that are integrated into the client's existing investment decision-making processes and that enable their investment managers to document significant contributions to climate change mitigation.
The guidance notes are developed for specific renewable energy activities earmarked for fund support, including wind power, solar PV and battery storage. The guidance notes cover the technical screening criteria for substantial contribution and 'do no significant harm' (DNSH) as well as the 'minimum safeguards' (MS).
Given the global focus of the fund, and the different approaches used in the EU Taxonomy depending on the location of the activity, two sets of guidance notes were developed for each technology type – for projects inside Europe and those outside. This is of particular relevance for the DNSH criteria.