Australian news, and some related international items

German Greens fight plan to funnel billions of euros into the nuclear industry via deceptive taxonomy ”sustainable” label

German Greens lead attack on EU plan to label nuclear power ‘sustainable’. Brussels’ proposal is central to European goal of channelling billions of euros into green investments,,  Mehreen Khan in Brussels and Joe Miller in Frankfurt 3 Jan 21,
  Germany, Austria and Luxembourg have hit out at Brussels’ plans to classify nuclear power as a sustainable technology in the EU’s landmark labelling system for green investment, which is central to Europe’s plans to decarbonise the bloc’s economy. German economy minister Robert Habeck, who is a member of the Green party in the country’s governing coalition, said: “It is questionable whether this greenwashing will even find acceptance on the financial market.” He told German press agency DPA on Saturday: “In our view, there was no need for this addition to the taxonomy rules.”  

Brussels’ proposal is part of a so-called “taxonomy” list, which aims to help channel billions of euros of investment needed to decarbonise the bloc’s economy. The plan, the first attempt by a leading regulator to bring clarity to investors seeking to put private capital into sustainable economic activity, covers about 80 per cent of the bloc’s emissions and is intended to be a “gold standard” for markets to decide what is truly green or not. But the process has been beset by fierce political infighting inside the European Commission and its member states.

Leonore Gewessler, Austria’s minister for climate and energy, said on Saturday that Vienna would consider suing the European Commission if the classification of nuclear power as green went ahead. Claude Turmes, Luxembourg’s energy minister, meanwhile called the inclusion of nuclear power a “provocation”.  The inclusion of nuclear power is widely seen as a victory for the French government which has urged Brussels to ensure the new rules do not punish a technology that provides almost two-thirds of French electricity. Nuclear reactors do not generate CO2 emissions but produce highly toxic waste…………..
The Brussels draft text will form part of a consultation with EU countries and independent experts that will run until January 12. However, anti-nuclear EU governments do not have the power to veto the taxonomy, which diplomats say is likely to win majority support in the EU Council. Astrid Matthey, one of the independent experts who advises the commission on the rules, criticised the draft for “contradicting the very purpose of the taxonomy”. 

“The conditions under which both technologies are to be included are far from ensuring that we reach the Paris climate targets and do-no-significant-harm to the environment. There is still a long way to go for this draft to become aligned with the Green Deal and the EU’s environmental targets”, said Matthey.

January 3, 2022 - Posted by | Uncategorized

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: