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EU considers labelling nuclear and gas investments as "green"

The European Commission has included nuclear energy and natural gas in the draft EU sustainable finance taxonomy, which is a green labelling system for investments in the energy sector, considering that they could facilitate the transition towards a predominantly renewable-based future. Nuclear plants could be considered as green if the projects cause "no significant harm" to the environment and have a plan, funds and a site to dispose of waste. In addition, nuclear projects must receive construction permits before 2045. Gas-fired projects must produce emissions below 270 gCO2eq/kWh, replace a more polluting plant, receive a construction permit by 31 December 2030, and plan to switch to low-carbon gases by the end of 2035 to be deemed green. The draft proposal will be scrutinised by EU countries and a panel of experts until 12 January 2022. The complementary Delegated Act will be formally adopted by the Commission in January 2022.


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