The EU Taxonomy Regulation is an important part of the EU action plan to shift capital flows towards a more sustainable economy and marks an important step towards the goal of achieving climate neutrality by 2050.
Statnett’s activity is taxonomy-eligible, and we have assessed that all our operations relate to the energy sector; activity 4.9 Transmission and distribution of electricity.
Statnetts activity contributes to following climate goals
For Statnett's activity to be defined as sustainable, it must meet several requirements.
The activity is sustainable when it makes a substantial contribution to one of the six objectives above, and when it does not have a significant negative impact on the remaining five objectives (Do no significant harm, DNSH). In addition, the activity must meet minimum requirements for social and governance aspects.
Our activity makes a substantial contribution to the climate objective “Climate change mitigation”. The interconnected European power system makes a substantial contribution to the green transition.
A well-integrated energy market and energy system are fundamental prerequisites for achieving Europe’s energy and climate targets in a cost-effective manner. Furthermore, our assessment is that our activity has no significant negative impact on the other objectives, and we comply with the minimum safeguards criteria for social and governance aspects.
Statnetts assessment
See the table below for our assessment related to impacts on the five other environmental objectives.
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Environmental objectives |
Our assessment of the DNSH criteria for activity 4.9 in the taxonomy |
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Climate change adaptation |
Statnett has identified physical climate risks and conducted vulnerability assessments that are material to our operations and implemented mitigating actions where risks have been identified. The assessments show that our facilities, depending on where in the country they are located, will experience increased, reduced, or unchanged climate impact. Guidelines for choosing routes and technical solutions informed by calculation of future climate loads. All new facilities are designed to withstand extreme weather events. Our assessments are based on the report “The importance of climate change for Statnett’s transmission facilities” and the regional projections made by the Norwegian Centre for Climate Services. See our section on climate and nature risk in the “Sustainability” chapter in the annual report for more information. |
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The sustainable use and protection of water and marine resources |
No criteria for water have been prepared in relation to activity 4.9. |
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Transition to a circular economy |
Norway has laws in place to regulate waste management. Statnett has plans for waste management, and our waste is processed so that as much as possible can be utilised as either material resources or energy resources. Statnett carefully plans waste management to facilitate the sorting at source of various components. The requirements for hazardous waste are particularly stringent. Statnett has a framework agreement for waste management. |
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Pollution prevention and control |
Systematic HSE work and internal control are legal requirements in Norway. Statnett adopts a structured and targeted approach to HSE, meeting the requirements of the Internal Control Regulations and the Construction Client Regulations. Our systematic HSE work is based on the risk factors to which our various activities are exposed. Statnett considers that its HSE work complies with the IFC’s performance standards for HSE. We comply with strict requirements to limit the effects of electromagnetic radiation on people as set out in Norwegian legislation, the provisions of the Radiation Protection Regulations and the authorities’ advice on caution and good practice. Statnett does not use power conduits that contain PCB. |
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Protection and restoration of biodiversity and ecosystems |
Regulations on Impact Assessments require enterprises to carry out risk assessments when planning new power transmission facilities. Construction of grid facilities must also conform with several sector-specific laws and regulations. We carry out impact assessments in accordance with Directive 2011/92/EU, as implemented through the Norwegian Regulation on Impact Assessments. Statnett uses the mitigation hierarchy as a basis for planning new power transmission facilities. If an impact on a biodiversity asset cannot be avoided, Statnett strives to minimise the impact by implementing mitigating measures. You can read more about nature in the chapter on “Sustainability” in the annual report. |
See Statnett's Annual and Sustainability report for 2023 (pp 53-61) for our full Taxonomy report.