EU missed opportunity to show global leadership on climate change with a robust and science-based taxonomy that underpins a credible pathway to net zero. This will undermine the EU’s climate neutrality target by 2050.
The taxonomy is a voluntary instrument to guide financial sector toward investment that allow us to reach our climate goals, which it is a de facto the key driven force. We are talking about what is the guide for the future on what is sustainable.!
Europe’s energy shortages have underscored the challenges of phasing out fossil fuels & nuclear power, and of relying on renewable supplies and power storage. Gas is seen as a way of helping to wean poorer EU countries like Poland off coal, which pollutes much more. France have touted nuclear as a low-carbon energy source crucial for the replacement of Russian fossil fuels. Excluding these energies sources from the taxonomy could be “particularly challenging” for Ukraine’s post-war reconstruction. Germany has expressed its rejection of the inclusion of nuclear energy and its dependency on gas. This decision could benefit Russia and perpetuate European reliance on its gas supplies.
It’s completely clear that both nuclear energy, and fossil gas have nothing to do with sustainability. This denotes the supremacy of lobby groups and countries’ energy policy over the scientific rationale.!!!
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