Author of the short article:

Reuters

Reuters

Kate Abnett and Philip Blenkinsop

BRUSSELS– European Union nations disagreed ahead of a top on Thursday over whether the bloc need to identify atomic energy as a climate-friendly financial investment, as leaders wait for a choice on the matter from Brussels.

The European Commission is thinking about whether to consist of nuclear and gas in its “sustainable financing taxonomy,” a rulebook that will limit which activities can be identified as climate-friendly financial investments.

” We protest a greenwashing of atomic energy … We have allies, amongst them Luxembourg, however naturally likewise effective challengers who are advocates of atomic energy,” Austrian chancellor Karl Nehammer stated on his arrival at the top of EU leaders.

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” Poland really highly supports the possibility of funding financial investments in gas and in nuclear power,” Polish prime minister Mateusz Morawiecki stated.

” Others have doubts about that and Poland plainly requires it and I will be stating that highly today to embrace that in the conclusions, “Morawiecki stated.

The Commission has stated it intends to choose this month on whether nuclear and gas are identified green, however has actually had a hard time to solve in-fighting in between the bloc’s nations– consisting of France and Germany, who are divided over the fuels.

France, which gets about 70%of its electrical power from atomic energy, is amongst its greatest advocates, and states the fuel’s low CO2 emissions make it crucial in the shift to green energy. Germany is amongst the nations opposed and is phasing out its own atomic power plants.

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Gas is likewise dissentious, with nations divided in between those that state it is required to assist them give up more-polluting coal, and those that state identifying a nonrenewable fuel source as a green financial investment is not reputable.

The Commission initially proposed its taxonomy guidelines in November 2020, however postponed a choice on gas after extreme lobbying from nations and market, and stated it required more time to collect skilled views on the ecological effect of hazardous waste.

The taxonomy does not prohibit financial investments in activities not identified “green.” By restricting the green label to those activities considered genuinely climate-friendly, the EU intends to guide money into low carbon jobs and stop business or financiers from making dubious ecological claims. (Reporting by Kate Abnett, Philip Blenkinsop, Jan Strupczewski; modifying by Barbara Lewis)

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