EU Lawmakers: Nuclear and Natural Gas Are 'Green' Investments

Facts

• On Wed., EU lawmakers approved a proposal that qualifies some natural and nuclear gas as 'green,' adding them to the EU's taxonomy rulebook - an investment guide on projects that align with the bloc's goal of climate neutrality by 2050.¹
• The proposal was made earlier this year by the European Commission. However, last month, legislators rejected the plan.²
• Wednesday's ruling passed 328 - 278, with 33 abstentions. If it goes unchallenged, the proposal will take effect Jan. 1, 2023.³
• The decision has garnered both criticism and praise, with the VP of the EU Parliament's environment committee describing it as a 'dark day for the climate and energy transition.'⁴
• Meanwhile the EU Commissioner claims that the move is 'an important element of the energy security in Europe.'⁵
• This comes as the EU Chief warned the 27-member bloc to prepare for a complete disruption of the gas supply from Russia and encouraged the development of emergency plans.⁶

Sources: ¹PBS NewsHour, ²Time (a), ³Al Jazeera, ⁴Washington Post, ⁵Guardian and ⁶Time (b).

Narratives

• Establishment-critical narrative, as provided by Guardian. This vote is hypocritical and misleading. The proposal goes against the EU Taxonomy's crucial goal of preventing greenwashing in the financial system, and will funnel billions into Putin's pockets whose war in Ukraine is being funded by investments in fossil fuels. The EU has been swayed by wealthy lobbyists and has now set the bar low for other countries.
• Pro-establishment narrative, as provided by EURACTIV. The EU has taken a necessary step in reaching the member nations' climate-neutral goals. Not only is this decision crucial in attracting funding for renewable energy sources, but it also reveals that the EU rightly recognizes that both natural and nuclear gas is fundamental to the continent's energy stability - an example that others should heed.