EU finance proposal under fire

The EU ‘green’ taxonomy will not be changing, and nuclear and gas will stay on the list, despite protests that such fuels cannot be regarded as sustainable, Financial Markets Commissioner Mairead McGuinness reaffirmed this week.

Given the political and nationalistic reason it is not a surprising outcome, but several EU states and campaigning groups have expressed displease that these two energy sources were placed on the list in the first place, and that calls to reconsider have been ignored.

The credibility of the proposals has been under fire since the taxonomy was first presented, and a suspicion is that France lobbied for nuclear whilst Germany did so for gas, given those two countries energy strategies are so dependent on each. The reliance of Germany on Russian gas is an added issue at the present time of tensions.

As such they remain in the proposals as “transitional technologies”.

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