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LEAK: EU to table ‘climate taxonomy’, leaving gas and nuclear for later
(EurActiv, 16 Apr 2021) The European Commission plans to delay a decision on whether to label nuclear and natural gas power plants as a sustainable investment under green finance rules due to be published next week, according to a leaked document seen by EURACTIV.
The EU executive is due to publish on 21 April the first section of its “sustainable finance taxonomy,” a long list of economic activities plus the specific rules they must meet to be labelled as green investments in the EU.
The rules, spelled out in a “Taxonomy Climate Delegated Act”, set out detailed green finance criteria for undisputed low-carbon technologies like renewables but leaves out gas and nuclear power for a separate decision to be take at a later stage by EU member states and the European Parliament.
Gas and nuclear have proven the most contentious issues in the debate on green finance, with countries in eastern and southern Europe threatening to veto an earlier draft because it did not label gas as “green” or “transition” investments.
France, meanwhile, said it would fight to make nuclear recognised as a green technology under the EU’s sustainable finance rules. “This is a real political fight,” said French economy minister Bruno Le Maire who stressed “the determination of France” to get a green investment label for nuclear power under the taxonomy.
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EurActiv, 16 Apr 2021: LEAK: EU to table ‘climate taxonomy’, leaving gas and nuclear for later
