October 7, 2022

Taylor Daily Press

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The European Commission wants to classify gas and nuclear power as green investments

The European Commission wants to classify gas and nuclear power as green investments

If it depends on the European Commission, investments in gas and nuclear energy are given a green mark, provided a number of conditions are met. This is evident from a proposal sent to Member States.

Before the end of 2021, the European Commission will draw up a list of energy sources that can be classified as beneficial to the climate and the environment. This rating, “rating” in EU parlance, should direct investors towards green energy sources. However, the resolution was lifted in the new year.

In the meantime, the commission prepared its proposal. The German news agency (dpa) learned that the list had been sent to the member states, who were able to see the document. Gas and nuclear will also receive a green mark in the classification proposal, provided a number of conditions are met.

strict conditions

For example, investments in nuclear facilities will receive a green mark only if the latest technologies are used and if there is a concrete plan for the treatment of nuclear waste, which can come into force from 2050. In addition, according to the commission, plants should receive New nuclear power has a building permit by 2045 at the latest.

For gas, on the other hand, stricter requirements regarding CO2 emissions will apply. Thus, gas-fired power plants still licensed after 2030 will not be allowed to emit no more than 100 grams of CO2-equivalent per kilowatt-hour of energy produced, calculated over the entire life cycle of the facility.

The proposal is controversial. The status of gas and nuclear energy was the subject of active discussions between European Heads of State and Government last month during the European Council in Brussels. France and dozens of other countries advocate nuclear power because it could help the European Union transition to climate neutrality by 2050. But Austria and Germany, among others, are categorically opposed, because of nuclear waste. And according to those states, gas should also have a role. It emits much more than nuclear energy, but is cleaner than, say, coal.

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The European Commissioner for the Internal Market, Terry Breton, said at the end of last year that the European Union may need gas and nuclear power to achieve ambitious climate goals. The committee makes a decision on the rating through what is called delegated law, which is a decision that implements the existing rating regulation. Member states and the European Parliament object to this delegated law after the proposal has been submitted.