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Reprieve for Nuclear, Gas in EU’s Sustainable Finance Taxonomy Rules

April 22, 2021

The European Union’s (EU’s) much-watched Taxonomy Climate Delegated Act—the world’s first “green list”—unveiled by the European Commission (EC) on April 21 qualifies several power producing sectors in its technical screening criteria for sustainable investment decisions. However, it delays controversial decisions on gas and nuclear.

The EC adopted the Delegated Act as part of an ambitious package to help improve the flow of money toward sustainable activities across the EU and help the region meet its climate neutral goals by 2050. The decision came one day before the EU reached a provisional agreement to reduce its GHGs by 55% in 2030.

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