EU Keeps Gas' 'Green' Label

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The European Commission's proposal to make investments in some natural gas and nuclear power plants eligible for green funding under the so-called "EU taxonomy" is set to become law after the most serious effort to halt the initiative was voted down on Wednesday by the European Parliament. The Strasbourg lawmakers voted 328 to 278 against an objection to the commission's initiative. There's now effectively no chance that the European Parliament or the European Council will meet high voting thresholds needed by Jul. 11 to halt the law. The inclusion in the taxonomy of certain gas and nuclear activities — which the commission noted is "time-limited and dependent on certain conditions and transparency requirements" — is therefore set to enter into force as of Jan. 1, 2023.

Low-Carbon Policy, Gas Demand, Nuclear
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