The text should help mobilize private funds for activities that reduce greenhouse gas emissions.
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The European Commission announced on Wednesday February 2 the creation of a controversial green label for nuclear power plants and gas-fired power plants. This certification recognizes, under certain conditions, their contribution to the fight against climate change. This label was previously reserved for renewable energies and the project, which divides the 27 Member States of the EU, has angered many environmental NGOs and raised doubts in the world of finance.
On Tuesday, European commissioners approved a list of criteria for classifying as “sustainable” investments in nuclear or gas power plants for the production of electricity, in particular a limitation in time and the obligation to use the best available technologies. The text should help mobilize private funds for activities that reduce greenhouse gas emissions.
This project is part of the EU’s goal of achieving carbon neutrality by 2050. “Today we take another important step in the transition” towards this goal, said European Commissioner for Financial Services. “We must use all the tools at our disposal, because we have less than thirty years to achieve this.”
But environmentalists denounce the inclusion of gas-fired power stations, which emit CO2, and nuclear power, because of its radioactive waste and the risk of accidents. A small group of countries, including Austria and Luxembourg, led by Germany, fought to exclude nuclear power plants from the project. Along with Denmark, the Netherlands and Sweden, Austria had also contested the “green” label for gas. Vienna announced on Wednesday February 2 that it would launch “proceedings before the Court of Justice of the EU” if “this taxonomy takes effect”.