Thread by @MehreenKhn

Happy new year from Planet Brussels where this has just landed in some people's inboxes 🎁 #taxonomy

A 60-page draft #taxonomy text landed in inboxes of member states minutes before 2022 struck. A "consultation" process - which does not involve MEPs - will run until mid Jan. Some highlights on what's included 👇

Commission stresses that on nuclear energy and fossil gas there are "rapid technological" developments occuring.
On ☢️, draft paves the way for awarding the green label as long as MS can provide plans for safe waste management and a 100g per KW of CO2 is not exceeded

A boon for 🇫🇷: New nuclear investment will be taxonomy compliant for permits granted by 2045 for electricity generation and the EU's green silver bullet: low-carbon hydrogen production

Conditions for including fossil gas are more onerous as this is the trickiest circle the Commission has to square. Fossil gas will be a "transitional" taxonomy compliant investment for new installations permits granted by December 31st 2030, if the following thresholds are met:

Member states & an expert group who have advised on the taxonomy will give feedback in ~2 weeks. Overwhelmingly likelihood that pro-gas and pro-nuclear countries will approve the text. MEPs need to a majority to reject - but odds stacked against them 🇫🇷🇩🇪 support the draft

Late night write up of the taxonomy draft which gives almost carte blanch greening of nuclear power for decades in the EU and fossil gas well beyond 2030 on.ft.com/3FKS2n8

Voices in German green party urging Berlin & European Parliament to reject taxonomy draft. My understanding is that Green German economics ministry has been actively involved in the draft but the position on nuclear shows little signs of much 🇩🇪 influence

https://twitter.com/JanAlbrecht/status/1477221679885660160?t=DsHroNEVdmYoVaWtIjftqQ&s=19

Taxonomy has consequences beyond financial markets. Defining what is green is huge element in debate on reforming EU budget rules. 🇮🇹 wants a golden rule to exclude public spending on green projects from debt ratio. This draft would allow billions spent on gas & ☢️ to be excluded

🇱🇺 energy minister says Commission's #taxonony draft is a "provocation" and the inclusion of nuclear power an opening towards EU greenwashing. But EU's anti-nuclear states who include 🇩🇪🇦🇹, do not have a majority to reject the text. Protestations in vain

https://twitter.com/ClaudeTurmes/status/1477274541508505606?t=NfB0TSPeRztJfK6qgG-3KQ&s=19

Germany’s Green economy minister Robert Habeck criticises inclusion of nuclear as ‘diluting’ credibility of the taxonomy

zeit.de/politik/auslan…