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Lawmakers urge Brussels to ditch green label for gas in EU taxonomy
(EurActiv, 17 Mar 2022) A group of 102 lawmakers in the European Parliament have called on the European Commission to withdraw its proposal to include fossil gas in the EU’s green finance taxonomy, saying Russia’s invasion of Ukraine has rendered the proposal obsolete.
Last week, the European Commission outlined plans to cut the EU’s dependence on Russian gas by two thirds before the end of 2022 as part of proposals to become independent from all Russian fossil fuels “well before 2030”.
Those plans contradict Commission proposals to label gas as a green transition fuel under the EU’s sustainable finance taxonomy, the lawmakers say.
“We welcome your plan to make Europe independent from Russian fossil fuels,” the lawmakers write in a letter addressed to Commission President Ursula von de Leyen and commissioner McGuiness, in charge of financial services.
“This stands in stark contrast with the proposal to incentivise investments in fossil gas through the Taxonomy Regulation which was decided by your Commission before the Russian invasion of Ukraine,” they add, calling on the Commission to withdraw it.
The Commission tabled its proposal on 2 February, saying gas power plants could be considered green if they contribute to “a reduction in emissions of at least 55%” over their lifetime and are designed to switch to 100% renewable or low-carbon fuels by the end of 2035.
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EurActiv, 17 Mar 2022: Lawmakers urge Brussels to ditch green label for gas in EU taxonomy
