Business & Economy

European Parliament proposal to label nuclear, gas plants ‘green’

Strasbourg, France, Jul 6 (EFE).- The European Parliament approved on Wednesday a proposal by the European Commission to label nuclear plants and gas-fired power plants as green and sustainable.

“Parliament has rejected a motion to oppose the inclusion of nuclear and gas as environmentally sustainable economic activities,” it said in a statement.

A total of 278 MEPs voted in favor of the scheme while 328 voted against the so-called taxonomy, which guides financial investments in the bloc towards sustainable economic activities. A total of 33 MEPs abstained from voting.

The European Council – the other co-legislator in the EU – can still reject the proposal before July 11.

If the Council does not object, the EC’s proposal to label “sustainable” nuclear power plants with construction permission before 2045 and gas plants that emit less than 270 grams of CO2 per kilowatt-hour until 2031 will be approved and enter into force as of January 1 2023.

Although countries such as Spain, Austria, Luxembourg and Denmark oppose the plan, European sources told Efe that a blocking majority is not likely to be formed.

The taxonomy proposed by the Commission aims to boost green investments and prevent ‘greenwashing’.

Gas plants, which releases less CO2 than other hydrocarbons such as coal, is considered essential for the EU’s transition to a decarbonized economy by 2050 while nuclear energy raises concerns in terms of safety or radioactive waste management, but hardly emits carbon dioxide.

Some countries such as Luxembourg or Austria are considering taking the taxonomy before the Court of Justice of the European Union. EFE


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