2022-07-07 10:40:00
EUROPEAN NUCLEAR, GAS BACK
EUROPEAN PARLIAMENT - July 6, 2022 - Taxonomy: MEPs do not object to inclusion of gas and nuclear activities
Absolute majority of MEPs needed to reject the Commission’s proposal was not reached
If Council does not object either, the Taxonomy Delegated Act enters into force on 1 January 2023
Parliament has rejected a motion to oppose the inclusion of nuclear and gas as environmentally sustainable economic activities.
The European Parliament did not object to the Commission’s Taxonomy Delegated Act to include specific nuclear and gas energy activities, under certain conditions, in the list of environmentally sustainable economic activities covered by the so-called EU Taxonomy.
As the Commission believes there is a role for private investment in gas and nuclear activities in the green transition, it has proposed the classification of certain fossil gas and nuclear energy activities as transitional activities contributing to climate change mitigation. The inclusion of certain gas and nuclear activities is time-limited and dependent on specific conditions and transparency requirements.
278 MEPs voted in favour of the resolution, 328 against and 33 abstained. An absolute majority of 353 MEPs was needed for Parliament to veto the Commission’s proposal. If neither Parliament, nor Council object to the proposal by 11 July 2022, the Taxonomy Delegated Act will enter into force and apply as of 1 January 2023.
Background
The Taxonomy regulation is part of the Commission’s action plan on financing sustainable growth and aims to boost green investments and prevent ‘greenwashing’.
-----
Earlier:
2022, July, 5, 12:20:00
EUROPEAN GAS PRICES GROWTH
European energy markets are in turmoil with Russia’s supplies at multiyear lows, coupled with intense competition for liquefied natural gas with Asia
2022, June, 15, 14:20:00
EUROPE AGAINST NUCLEAR
There has been a split within the European Union over whether or not nuclear power - and natural gas - should be included as being "sustainable". Nuclear energy was left out of the initial Delegated Act pending further assessment.
2022, May, 30, 11:35:00
EUROPEAN ENERGY DEADLOCK
The European Union proposed banning seaborne oil from Russia while delaying restrictions on imports from a key pipeline
2022, May, 25, 11:15:00
EUROPEAN GAS AMBITIONS
As a result, short-term gas prices in Britain, France and Spain have tumbled to as little as a third of those in markets including the Netherlands and Germany,
2022, May, 25, 10:55:00
EUROPEAN GAS OBLIGATIONS
EU Member States consumed approximatively 400 bcm of gas in 2020 (25% of the EU's primary energy consumption), and they possess a combined gas storage capacity of about 105 bcm (as of 2020).
2022, May, 16, 12:10:00
EUROPEAN ENERGY STORM
The energy package due this week may include measures to address the increasing household costs and energy poverty.
2022, May, 11, 11:05:00
EUROPEAN ENERGY PLAN $205 BLN
The EU wants to combine faster deployment of renewables, greater energy savings, diversification of supplies from international partners and new tools to accelerate investment in a bid to replace coal, oil and natural gas from Russia following the country’s invasion of Ukraine.
