Handing a muted victory to proponents of nuclear and gas, the European Commission (EC) on Feb. 2 adopted a measure that labels some nuclear and gas energy activity as climate-friendly investments. However, it set out strict, potentially limiting technical screening criteria for those activities to qualify, prompting pushback from the nuclear and gas industries.
The EC’s newly adopted Complementary Climate Delegated Act (CDA) essentially adds certain nuclear and gas activities to the “transitional” package, Article 10(2), of the European Union’s (EU’s) taxonomy regulation. The goal of EU taxonomy “is to prevent greenwashing” and help investors identify economic activities that bolster the EU’s environmental and climate objectives.
