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EU to propose green investment label for gas and nuclear energy, source says

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The European Commission is set to propose rules on Wednesday to allow some gas and nuclear power plants to be labelled as green investments, with minor changes to a previous draft proposal, a Commission source told Reuters.

Brussels has been attempting for more than a year to settle whether gas and nuclear energy should be labelled as green in the EU's taxonomy, a rulebook that defines which investments can be marketed as climate-friendly.

The draft would have granted gas plants a green label until 2030 if they meet criteria including emissions limits, and a requirement to progressively burn more low-carbon gases, starting in 2026 and eventually switching to 100% low-carbon gas in 2035. The rules have not yet been adopted by the Commission and could change before they are due to be published on Wednesday.

 

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Four countries urge EU to drop green investment label for gasAustria, Denmark, Sweden and the Netherlands have urged the European Union not to label gas energy projects as green investments, as Brussels attempts to finalise divisive rules on whether the fuel deserves a sustainable badge.
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