Natgas is a highly polluting fossil fuel. Investors beware. The EU taxonomy vote is just a guide + legal challenge (4)

—Austria to sue after the vote: see below

July 5-8, 2022: Comment / analysis by Mathew Carr

Europe’s parliament decided to install guidelines to prevent greenwashing and stranded assets, allowing investment in nuclear and natural gas during the climate transition.

To some it confuses an already-complicated policy landscape. Others are planning to sue (see below).

Should Europe’s natgas focus continue to take up an unfair portion of the global carbon budget, that will annoy emerging countries it needs to win a G20 climate deal.

It’s not seen likely that EU member states will block the “taxonomy.” See this on Bloomberg.

__________

  • Final EU vote on gas and nuclear investment rules
  • Lawmakers split over whether to label fuels as ‘green’
  • Majority of EU lawmakers needed to block law

BRUSSELS, July 6 (Reuters) – The European Parliament will decide on Wednesday whether to block or accept an EU law labelling investments in gas and nuclear power plants as climate-friendly, which has exposed deep rifts between countries over how to fight climate change (see link above).

See this key context:

https://ec.europa.eu/commission/presscorner/detail/en/SPEECH_22_4330

Polluters will increasingly be made to pay.

See this speech: linked above
Mairead MCGUINNESS, European Commissioner for Financial Services, Financial Stability, and Capital Markets Union

Continued at link above

See also these closing remarks

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