MEPs Accept Gas & Nuclear Energy In Taxonomy, Can Be Labelled As Sustainable

The European Parliament has officially accepted adding gas and nuclear energy to its 'green taxonomy' - the rules that determine whether an investment can be labelled as environmentally sustainable in the EU.

• An objection to the acceptance failed to reach the threshold required, with 278 votes in support of rejecting the taxonomy and 328 in favour of adding to the taxonomy. with 33 abstentions.
• The ruling will come as a boon to the Commission, which supported the change, but a blow to climate activists and environmentalist MEPs.
• Prior to the vote, Commission President Ursula von der Leyen stated to MEPs that if this taxonomy were rejected, no other would be presented by the Commission, meaning that there would be no guidance at all on sustainable energy investments in the EU.
• The new taxonomy will allow firms to invest in nuclear and gas power while maintaining that the investment is an environmentally stable one. Opponents have called the action 'greenwashing'. The controversy over the taxonomy has led to some speculation that some firms could disregard the ruling and ignore the taxonomy's inclusion of gas and nuclear in an effort to maintain corporate environmental credibility.