EU, Finance + Nukes as Green

Posted: 18th January 2022

Investors with €50tr assets under management group call on EU to revisit plan to sanction spending on some gas power plants under its new green finance rulebook. Major investors have urged the EU to amend its draft green investment rule book to ensure that no fossil gas investments can be labelled sustainable, arguing their inclusion will hinder financiers’ ability to deliver net zero portfolios, undermine the credibility of the green taxonomy, and could result in reduced climate ambition around the world. Business Green 17th Jan 2022  https://www.businessgreen.com/news/4043353/remaining-carbon-budget-investors-urge-eu-ban-fossil-gas-green-finance-rulebook The science-based case for excluding nuclear power from the EU taxonomy A statement by Dawn Slevin, Dr. Erik Laes, Paolo Masoni, Jochen Krimphoff,Fabrizio Varriale, Andrea Di Turi, Dr. Ulrich Ofterdinger, Dr. DoloresByrne, Dr. Petra Kuenkel, Ursula Hartenberger, Kosha Joubert, Dr. PaulDorfman, Anders Wijkman, Prof. Petra, Seibert, Rebecca Harms, Joseph Kobor,Michel Lee, Dr. Stuart Parkinson, and Dr. Ian Fairlie. One of the mostinfluential policy initiatives of the European Commission in the past yearshas been the “EU Taxonomy”, essentially a shopping list of investmentsthat may be considered environmentally sustainable across six environmentalobjectives. To be deemed EU Taxonomy aligned, the activity must demonstratea substantial contribution to one environmental objective, such as climatechange mitigation, whilst causing no significant harm to the remaining fiveenvironmental objectives (climate change adaptation, sustainable use andprotection of water and marine resources, transition to a circular economy,pollution prevention and control, and protection and restoration ofbiodiversity and ecosystems). Beyond Nuclear 16th Jan 2022  https://beyondnuclearinternational.org/2022/01/16/not-green-and-not-sustainable/