European Parliament agrees to join gas and nuclear energy in the ‘EU taxonomy’

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The European Parliament rejected the proposal not to include nuclear energy and natural gas in the list of environmentally sustainable economic activities.

The European Parliament did not ultimately oppose the European Commission’s proposal for a delegated act on taxonomy. The proposal provides for the inclusion of certain activities in the nuclear energy and natural gas sectors in the list of environmentally sustainable economic activities to be covered by the EU classification.

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The Commission believes that private investment in natural gas and nuclear power activities can contribute to the green transition. For this reason, it suggested that certain activities in these sectors should be designated as transitional activities that contribute to the mitigation of climate change. The inclusion of specific activities in the natural gas and nuclear energy sectors will be valid for a limited period of time and will be subject to specific conditions and transparency requirements.

The objection to the Commission’s proposal was rejected with 278 votes in favour, 328 against and 33 abstentions. An absolute majority of 353 MEPs was required to reject the Commission’s proposal. If the Council does not oppose the proposal by 11 July 2022, the EU Taxonomy Delegated Act will enter into force on 1 January 2023.

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It is noted that the taxonomy regulation is part of the Commission’s action plan on financing sustainable development and aims to stimulate green investment and prevent the promotion of false ecological identity.

Source: Capital

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