EU court says private jet manufacturing can be labelled green investment

Dassault Aviation SA

Yesterday 10:19

June 24 (Reuters) - The manufacture of private jets cannot be excluded from a list of activities deemed to be environmentally sustainable, the European Union's second-highest court said on Wednesday, annulling a decision by the European Commission.
     
The contested list, the sustainable finance taxonomy, is intended to provide investors with an overview of green investments.
The Commission in 2023 excluded aircraft for private or commercial business aviation from the list, based on CO2 emissions per passenger kilometre compared with other modes of transport.
That decision was contested by French planemaker Dassault Aviation AM.PA, which called it unlawful.
The EU's General Court said that other modes of transport could not necessarily be seen as low-carbon alternatives because private jets have specific characteristics in terms of flexibility, speed and connectivity.
It also said that the CO2 footprint related to the operation of aircraft, not the manufacturing of them.
The court noted that the Commission had failed to take into account that private jets could be flown on sustainable fuel.
The Commission can appeal the ruling within two months.

 (Reporting by Bart Meijer
Editing by David Goodman)
 ((Bart.Meijer@thomsonreuters.com;))