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EU to offer gas plants a green finance label, under certain conditions
(EurActiv, 23 Mar 2021) The European Union plans to label some gas power plants as sustainable investments, after an initial proposal to deny them a green label faced a backlash from a group of 10 EU member states.
The European Commission’s new proposal, shared with EU countries on Saturday, would class gas-fuelled plants that generate power plus heating or cooling as a green investment if strict conditions on emissions are met and they are operating by 2025.
The EU’s updated proposal for gas plants is part of its Sustainable Finance Taxonomy, which defines what economic activities can be marketed in Europe as sustainable investments from next year. The full text of the proposal was published online by specialised news site Contexte.
The Commission declined to comment on the draft proposal. It plans to finalise the sustainable finance rules by April 21.
The EU’s aim is to steer more capital into environmentally friendly projects to help it deliver on its plan to rapidly slash the greenhouse gas emissions causing climate change.
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EurActiv, 23 Mar 2021: EU to offer gas plants a green finance label, under certain conditions
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