EU must drop gas from green taxonomy proposal – MEPs
European Parliament members say inclusion of gas in green finance taxonomy undermines response to invasion of Ukraine
A group of 104 members of the European Parliament has demanded the European Commission abandon proposals to include gas in its sustainable finance taxonomy. The MEPs argue the inclusion of gas under a delegated act proposed before the invasion of Ukraine undermines Europe’s efforts to end its reliance on Russian gas in response to the crisis and must be dropped. The taxonomy defines sustainable projects and acts as a key investment driver for the sectors included. A plan called RepowerEU, unveiled by the Commission last week, calls for Europe to respond to Moscow’s actions by becoming independent of Russian gas—which provided 45pc of imports in 2021— well before 2030. Under the plan, the EU
Also in this section
26 March 2024
Country has Europe’s largest CO₂ storage potential but regulatory and policy issues must be resolved to enable growth, says Offshore Energies UK
26 March 2024
Largest investment to date will support emission reduction projects across multiple sectors including refining, steel and cement
19 March 2024
Commodity trading companies are set for a key role in shaping green supply chains and providing carbon market liquidity
15 March 2024
Oil major explores potential expansion of Canadian project as investment in CCS gathers pace