July 7, 2022
1 min read

European Parliament backs green label for gas and nuclear power

The inclusion of certain gas and nuclear activities is time-limited and dependent on specific conditions and transparency requirements…reports Asian Lite News

European Union (EU) lawmakers have voted down an objection to labeling gas and nuclear power as sustainable energy sources.

The controversial decision was taken when the deputies, meeting in plenary session in Strasbourg, France, voted against a motion to block the proposal by 278 votes in favour, 328 against and 33 abstentions.

If the Council of the EU does not object to the proposal by July 11, the Taxonomy Delegated Act will enter into force and apply as of January 1, 2023, Parliament said in a statement after the vote.

European Commissioner for Financial Stability Mairead McGuinness said during Tuesday’s plenary debate that the taxonomy is a voluntary instrument to guide private investors towards investments that allow the EU to reach its climate goals.

“With this Complementary Delegated Act, we provide clarity around the criteria under which private investments in gas or nuclear, or both, comply with the taxonomy in the transition category,” McGuinness said.

The European Commission has proposed the inclusion of gas and nuclear technology in the EU’s Taxonomy Complementary Climate Delegated Act on climate change mitigation and adaptation — a list of economic activities deemed in line with the bloc’s transition to climate neutrality.

As the Commission believes that there is a role for private investment in gas and nuclear activities in the green transition, it has proposed the classification of certain fossil gas and nuclear energy activities as transitional activities contributing to climate change mitigation.

The inclusion of certain gas and nuclear activities is time-limited and dependent on specific conditions and transparency requirements.

However, the contentious EU proposal sparked claims of “greenwashing” by some EU member states and environmental lobbyists.

ALSO READ-Iran blames US for stalled nuclear talks in Doha

Previous Story

UK govt says diplomat ‘arrest’ reports false, has left Iran

Next Story

UK govt asks citizens to avoid non-essential travel to Lanka

Latest from -Top News

US committed great crime: Iran

Iran has now called for an emergency meeting of the UN Security Council and demanded the IAEA Board of Governors address the situation….reports Asian Lite News Iran has strongly condemned the United

Strike Iran, Face Us, Houthis warn US

The Yemen-based Houthi group, which controls much of northern Yemen, has been targeting Israel since November 2023…reports Asian Lite News Yemen’s Houthi group issued a stark warning on Sunday, declaring they would

Tehran Hits Back After US Strikes

The missiles struck several locations across central Israel. Notably, one hit Haifa without any prior warning sirens, raising alarm over possible gaps in the missile alert system….reports Asian Lite News Iran fired

Trump Dares Iran Again

This comes as Trump announced that America had bombed three nuclear sites in Iran and warned Tehran of further precision strikes…reports Asian Lite News US President Donald Trump declared that no other
Go toTop

Don't Miss

Int’l Women’s Day celebrated at Parliament House

The speakers underscored a diverse range of aspects, linking mental

Bill to override Northern Ireland deal back in Parliament

This creates a customs border down the Irish Sea, keeping