EU plans to label gas and nuclear investments as “green”



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EU plans to label gas and nuclear investments as “green”

In what would more likely to be viewed as a dubitable move, the 26-member European Union had put together a plan to brand some natgas alongside nuclear energy projects as “green investments” following year-long wrangling over the issue.

In point of fact, latest move from EU to draw up a green investment legislation came forth nearly a year after the bloc’s Governments and climate-friendly activists had engaged in a rattling battle, as the move could spur up the heats further while polarizing the bloc’s political backdrop, suggested analysts.

Besides, according to a European Union draft document seen by a press agency reporter, the EU Commission was looking to propose its new green investment rules that included natgas and nuclear projects, as early as by January, while it remains to be seen whether the EU Commission would corroborate playing a hard-ball by including natgas and nuclear investment as green investments.

Adding further holocaust over the proposed draft, EU advisors were reportedly quoted saying that the bill could be not be considered as a legislation that would comply with climate goals.

EU seeks to add nuclear, natgas projects as green investments

Aside from that, Brussels also had been brewing off an option to put on an identical system to EU funding, suggesting that the proposed legislation would determine whether a project is eligible for receiving public finances.

According to the draft, a nuclear power plant would be considered as a green investment, should that project harbour a plan, funds alongside a safe site to dispose radioactive wastes. On top of that, in order to be branded as green investments, new nuclear plants must have to obtain a construction permit before 2045, the draft proposal added.