The European Parliament will decide on Wednesday whether to block or accept an EU law labelling investments in gas and nuclear power plants as climate-friendly, which has exposed deep rifts between countries over how to fight climate change.
EU officials expect a tight vote. A total of 353 lawmakers – just over half of the 705 in the full parliament – would need to reject the EU rules. Voting must be done in person, so the handful of lawmakers off sick with Covid-19 has further tightened the ballot.With its taxonomy, the EU aims to clear up the murky world of sustainable investing, by ensuring that any financial products making eco-friendly claims adhere to strict standards.
Nuclear energy is free from CO2 emissions, but produces radioactive waste. Gas is a fossil fuel that produces planet-warming emissions, but is viewed by some EU countries as a route out of dirtier coal. Lawmakers also disagree on how the law will impact financial markets, with some warning that gas and nuclear projects could face higher capital costs if they are denied “green” status.
'When are people going to wake up and question why the most used element is getting such a bad rap & forced to be curtailed or TAXED when Farmers pump tons annually into greenhouses to promote plant growth? Why?'