Business

MEPs vote on which fuels can be labeled as ‘green’

blank

A European Union plan to label investments in natural gas and nuclear power plants as climate-friendly faces a final vote today when lawmakers decide whether to accept or reject proposals that have divided governments and investors.

The vote is the final hurdle in the EU’s long-delayed decision on whether to include the two energy sources in its “taxonomy,” a set of rules that determines which investments in Europe can be marketed as sustainable.

Designed to steer private capital towards truly green projects, the rules aim to set a European standard for sustainable investment and eradicate greenwashing.

But the debate has evolved into a broader political argument about which fuels Europe should invest in to fight climate change.

Opponents say natural gas, a fossil fuel that produces carbon dioxide when burned, shouldn’t be labeled green. Supporters say gas is cleaner than other fuels like coal and Europe must use it in the transition to renewable energy sources.

The invasion of Ukraine by Russia, Europe’s largest gas supplier, has exacerbated this debate.

Supporters say the proposal would help infrastructure import more non-Russian gas. Critics point out that the rules cover power plants but not liquefied natural gas (LNG) terminals, which would facilitate additional imports.

A debate ahead of today’s vote revealed these differences.

Socialist lawmaker Simona Bonafe, an opponent of the proposal, said it would mislead citizens and investors by labeling gas as climate-friendly.

European People’s Party MEP Christian Ehler, a supporter, said the rules reflect Europe’s path towards renewable energy.

Officials expect a close vote among Parliament’s 705 lawmakers.

https://www.independent.ie/business/world/meps-to-vote-on-what-fuels-can-be-labelled-green-41816754.html MEPs vote on which fuels can be labeled as ‘green’

Fry Electronics Team

Fry Electronics.com is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@fry-electronics.com. The content will be deleted within 24 hours.

Related Articles

Back to top button