{"id":46761,"date":"2022-07-06T16:41:50","date_gmt":"2022-07-06T15:41:50","guid":{"rendered":"https:\/\/www.climatechangenews.com\/?p=46761"},"modified":"2022-07-06T16:41:50","modified_gmt":"2022-07-06T15:41:50","slug":"eu-set-to-use-green-label-for-gas-nuclear-investments-after-parliamentary-vote","status":"publish","type":"post","link":"https:\/\/www.climatechangenews.com\/2022\/07\/06\/eu-set-to-use-green-label-for-gas-nuclear-investments-after-parliamentary-vote\/","title":{"rendered":"EU set to use &#8216;green&#8217; label for gas, nuclear investments after parliamentary vote"},"content":{"rendered":"<p><strong>The European Parliament voted on Wednesday in favour of plans to award a green investment label to nuclear and gas projects amid loud protests from green activists, who denounced the \u201cbetrayal\u201d of MEPs\u2019 climate commitments.<\/strong><\/p>\n<p>A motion to veto the European Commission\u2019s proposal to include nuclear and gas in the EU\u2019s sustainable finance taxonomy was defeated by 328 votes to 278.<\/p>\n<p>A minimum of 353 votes was needed to reject the plan, which means it is now officially approved by the European Parliament.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Objection to the inclusion of nuclear and gas in EU green finance taxonomy is rejected: 278 votes in favour, 328 votes against.<\/p>\n<p>This means the proposal goes through: nuclear and gas are now officially recognised as &#8220;transitional&#8221; activities under the taxonomy. <a href=\"https:\/\/t.co\/G6se90ZUoi\">pic.twitter.com\/G6se90ZUoi<\/a><\/p>\n<p>\u2014 Fr\u00e9d\u00e9ric Simon (@FredSimonEU) <a href=\"https:\/\/twitter.com\/FredSimonEU\/status\/1544632721074540548?ref_src=twsrc%5Etfw\">July 6, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Before it becomes law, the proposal to include nuclear and gas in the EU\u2019s green finance taxonomy must also face a vote in the EU Council of Ministers representing the EU\u2019s 27 member states.<\/p>\n<p>However, a majority of 20 countries is needed to veto the proposal in the Council, which makes a rejection highly unlikely.<\/p>\n<p>Reacting on Twitter, the energy minister of Luxembourg said he would challenge the decision before the EU Court of Justice.<\/p>\n<p>\u201cLuxembourg and Denmark will press legal charges and the Court will rule about its legality,\u201d <a href=\"https:\/\/twitter.com\/ClaudeTurmes\/status\/1544630232388444160?s=20&amp;t=9B-lO_U-oCvZKBO2bw7OjQ\" target=\"_blank\" rel=\"noopener\">wrote Claude Turmes<\/a>, saying he deeply regrets the Parliament\u2019s decision.<\/p>\n<p>Protestors in the hemicycle reacted immediately after the vote, wearing T-shirts reading \u201cbetrayal\u201d and calling MEPs \u201ctraitors\u201d.<\/p>\n<blockquote>\n<style type=\"text\/css\">\n<p>                #mc_embed_signup{background:#fff; clear:left; font:14px Helvetica,Arial,sans-serif; }<\/p>\n<p>                \/* Add your own Mailchimp form style overrides in your site stylesheet or in this style block.<\/p>\n<p>                   We recommend moving this block and the preceding CSS link to the HEAD of your HTML file. *\/<\/p>\n<\/style>\n<div id=\"mc_embed_signup\">\n<form id=\"mc-embedded-subscribe-form\" class=\"validate\" action=\"https:\/\/climatehomenews.us1.list-manage.com\/subscribe\/post?u=6316d25f7b68919349e54a251&amp;id=bf939f9418\" method=\"post\" name=\"mc-embedded-subscribe-form\" novalidate=\"\" target=\"_blank\">\n<div id=\"mc_embed_signup_scroll\">\n<p><label for=\"mce-EMAIL\">Want climate news in your inbox? Sign up for free to get our weekly newsletter and occasional extra bulletins<\/label><input id=\"mce-EMAIL\" class=\"email\" name=\"EMAIL\" required=\"\" type=\"email\" value=\"\" placeholder=\"your email address\" \/><\/p>\n<div style=\"position: absolute; left: -5000px;\" aria-hidden=\"true\"><input tabindex=\"-1\" name=\"b_6316d25f7b68919349e54a251_bf939f9418\" type=\"text\" value=\"\" \/><\/div>\n<div class=\"clear\"><input id=\"mc-embedded-subscribe\" class=\"button\" name=\"subscribe\" type=\"submit\" value=\"Subscribe to Climate Weekly\" \/><\/div>\n<\/div>\n<\/form>\n<\/div>\n<\/blockquote>\n<p><!--End mc_embed_signup--><\/p>\n<p>Michael Bloss, a German Green MEP, denounced the \u201cmadness\u201d of labelling nuclear and gas as sustainable investments, saying it will keep Europe addicted to Russian fossil fuels for many more years.<\/p>\n<p>\u201cFrance\u2019s nuclear reactors and waste dumps will be renovated and new fossil gas infrastructures created,\u201d Bloss said in a statement. \u201cNo serious bank will trust this taxonomy,\u201d he added, saying the Greens were now preparing to take legal action against the decision.<\/p>\n<p>Greta Thunberg, the teenage activist who started the Fridays for Future movement, reacted coldly on Twitter, saying the vote will delay the green transition and \u201cdeepen our dependency on Russian fuels\u201d.<\/p>\n<p>\u201cThe hypocrisy is striking, but unfortunately not surprising,\u201d she wrote.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">The European Parliament just voted to label fossil gas as \u201cgreen\u201d energy. This will delay a desperately needed real sustainable transition and deepen our dependency on Russian fuels. The hypocrisy is striking, but unfortunately not surprising.<br \/>\nThis is still <a href=\"https:\/\/twitter.com\/hashtag\/NotMyTaxonomy?src=hash&amp;ref_src=twsrc%5Etfw\">#NotMyTaxonomy<\/a><\/p>\n<p>\u2014 Greta Thunberg (@GretaThunberg) <a href=\"https:\/\/twitter.com\/GretaThunberg\/status\/1544637147646509057?ref_src=twsrc%5Etfw\">July 6, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Pascal Canfin, a French MEP who chairs the Parliament\u2019s environment committee, sought to assuage the concerns of green activists, reminding them that the taxonomy does not give a blank cheque to all gas investments.<\/p>\n<p>\u201cThe conditions set by the taxonomy for gas are precise: gas is only possible to replace coal, until 2030, under emission thresholds that are not considered dangerous and with reinforced transparency obligations,\u201d <a href=\"https:\/\/twitter.com\/pcanfin\/status\/1544629038865686528?s=20&amp;t=v45700Pqg2G13V0n2J69vQ\" target=\"_blank\" rel=\"noopener\">he wrote on Twitter<\/a>.<\/p>\n<p>Nuclear Europe, an industry association, <a href=\"https:\/\/www.nucleareurope.eu\/press-release\/taxonomy\/\" target=\"_blank\" rel=\"noopener\">congratulated MEPs<\/a> after the vote, saying Parliament had taken a \u201cscience-based decision\u201d to include nuclear in the taxonomy.<\/p>\n<p>\u201cIt is fantastic to see that a majority in the European Parliament has decided to listen to the experts and take the right decision,\u201d said Yves Desbazeille, director-general of Nuclear Europe.<\/p>\n<p>\u201cWe have less than 30 years left to decarbonise our economy in a sustainable way. By listening to the science, these MEPs have strengthened the EU\u2019s chances of achieving this ambitious goal.\u201d<\/p>\n<p>Eurogas, an industry lobby group, was also cheerful, saying the Parliament\u2019s decision \u201cprovides a decent framework\u201d for future investments.<\/p>\n<p>However, it said the European Commission\u2019s taxonomy proposal \u201ccould have done more to promote coal phase-out and the adoption of best-in-class technologies\u201d such as hydrogen and renewable gases.<\/p>\n<p>\u201cIt is also crucial that we overcome bottlenecks for imports of diversified natural gas and LNG [liquified natural gas], and renewable hydrogen,\u201d said James Watson, secretary-general of Eurogas.<\/p>\n<p><em>This article was <a href=\"https:\/\/www.euractiv.com\/section\/energy-environment\/news\/parliament-backs-eu-plan-to-award-green-label-for-gas-nuclear-investments\/\" target=\"_blank\" rel=\"noopener\">produced by Euractiv<\/a> and republished under a content sharing agreement.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"Climate campaigners accused EU lawmakers of &#8220;betrayal&#8221; and some member states are preparing legal challenges to the sustainable taxonomy","protected":false},"author":56,"featured_media":46762,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6,82,598,61],"tags":[3867,482,4893,4892],"coauthors":[4283],"class_list":["post-46761","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","category-eu","category-fossil-fuels","category-nuclear","tag-eu","tag-gas","tag-nuclear","tag-taxonomy","type-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>EU set to use &#039;green&#039; label for gas, nuclear investments after parliamentary vote<\/title>\n<meta name=\"description\" content=\"Climate campaigners accused EU lawmakers of &quot;betrayal&quot; and some member states are preparing legal challenges to the sustainable taxonomy\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.climatechangenews.com\/2022\/07\/06\/eu-set-to-use-green-label-for-gas-nuclear-investments-after-parliamentary-vote\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EU set to use &#039;green&#039; 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