Last year, EU officials published a set of guidelines for investors that spells out what should be considered a sustainable option for their cash injections. It essentially doles out green labels and could unlock billions in investments.
But the guidelines - known as the taxonomy, a classic piece of incomprehensible EU jargon - omitted two major issues: nuclear and gas power. The European Commission, the EU’s executive branch, said that particular chapter would be filled in at a later date.
Well that later date ended up being the 31 December, just a few minutes before midnight. The Commission, in some sort of mad rush to get it off its 2021 books, published its plan before the new year clock started to strike twelve.
Nuclear and gas power both should be included in the taxonomy, according to the EU’s executive, albeit under certain conditions and with strict eligibility deadlines. It is a suggestion that has left few people happy.
According to the EU...