The @EU_Commission's proposal to label gas & nuclear as green has pushed it further down the rabbit hole. It looks increasingly to escape this mess, but there are still some options to save the #taxonomy's integrity! see @e3g's latest briefing here 👇 🧵
https://twitter.com/e3g/status/1483846132451221504
Just a reminder, investor group @IIGCCnews & CSOs like @WWFEU or @GreenpeaceEU have rejected the proposal for #gas & #nuclear. the Platform on Sustainable Finance is likely to voice harsh criticism as well. @AndreasHoepner summarizes the problems perfectly environmental-finance.com/content/analys…
Meanwhile, @EUparliament positions itself in the #taxonomy fight, critizising lack of public consultation for the second delegated act, while the first, less controversial DA was subject to public scrutiny ( which confirmed that wind energy is 🟩).
https://twitter.com/YanDupas/status/1483716091687981061?s=20
🇦🇹 has already confirmed that it will sue the @EU_Commission if the delegate actd would continue to label nuclear as🟩. In parallel, lobby groups have argued that the criteria are too strict. What's obvious: The current proposal will make No ONE happy! euractiv.com/section/energy…
What is the way forward out of this mess?
1⃣ @EU_Commission pulls the delegated act and aknowledges that the classification of gas & nuclear hasn't been subject to a scientific assessment. EC leaves it at that or the Platform & public are consulted in the drafting of a new DA.
1⃣ @EU_Commission pulls the delegated act and aknowledges that the classification of gas & nuclear hasn't been subject to a scientific assessment. EC leaves it at that or the Platform & public are consulted in the drafting of a new DA.
2⃣ The compromise could be an amber 🟨 label for gas & nuclear with a clear defined timeline & scientifically based thresholds. Something which @McGuinnessEU already considered in Oct 2021. While not ideal, this would still be acceptable. ft.com/content/898e6c…
3⃣ bearly the minimum & with significant cost & greenwashing risk: @EU_Commission would further tighten the criteria for nuclear & gas, transparently communciate its thinking & publicly disclose how the DA aligns with a 1.5°scenario & EU climate goals. Governance is crucial here!
If the DA stay as it is, it would be below market standard for sustainable investment, fall behind 🇷🇺&🇨🇳 standards, and it would likely get rejected by investors. @Europarl_EN should veto this proposal & call out lobby-driven medelling by the @EUCouncil e3g.org/publications/w…
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