Page 10 - EurOil Week 28 2022

EurOil POLICY EurOil

EU lawmakers vote that nuclear and

some natural gas are ‘green’

EU THE European Parliament has voted that by 2050.
nuclear power and some forms of low-carbon EU legislators from the environment and
Parliamentary natural gas can be classified as ‘green’. This could economy committees in June had objected to the
committees had sort to lead to billions of dollars of state subsidies and new rule, but lawmakers rejected their recom-
block their inclusion in private investment for the energy sources. mendation in the landmark vote on July 6 both
the taxonomy. The move remains highly controversial, with to applause and boos.
its backers saying that natural gas is needed as The vote was 328-278 in favour, with 33
a bridge fuel to renewable energy because it is abstentions. Environmental groups demon-
cleaner than coal. Nuclear is needed more than strated outside the parliament building in Stras-
ever with the EU trying to wean itself from bourg, France.
imports of energy from Russia, they also say. “The Complementary Delegated Act is a
To qualify as “sustainable” investments, gas- pragmatic proposal to ensure that private invest-
fuelled power plants will need to meet certain ments in gas and nuclear, needed for our energy
emissions criteria and by 2035 must switch to transition, meet strict criteria,” said EU financial
using low-carbon natural gas. services chief Mairead McGuinness afterwards.
Opponents say that the new rule ‘green- After the vote, the European Commission
washes’ nuclear power, which remains danger- also used the term pragmatic: “This vote is
ous and produces radioactive waste. Natural gas important recognition of our pragmatic and
contributes methane to climate emissions. They realistic approach in helping many member
also say that the vote means that the transition states on their transition path towards climate
to renewable energy is only being delayed, a cli- neutrality.”
mate-damaging proposition. It added: “Climate neutrality is our objective
The move is not only significant because of and legal obligation. We are committed to using
the size of the EU, but also because the EU is seen all available tools to move away from high car-
as a climate leader globally and other regions bon-emitting energy sources.”
may well follow suit. The EU has committed to The vote was good news for energy security
cutting greenhouse gas (GHG) emissions by at and for targets for slashing emissions, said Slo-
least 55% by 2030, achieving climate neutrality vakian Prime Minister Eduard Heger. “We’ll

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