For quite some time, there has been a lot of talk about European taxonomy, meaning the classification of those investments that are considered sustainable in Europe on an environmental stand point.
This guides and mobilizes private investments in the activities necessary to reach the climate neutrality in the next 30 years. Taxonomy guidelines have been published in the European Union’ Official Gazette on June 22nd, 2020 and became official law on July 12th but it needs some more delegated acts, which are rules to better detail the classification. To this end, the European Commission, on December 31st, launched consultations with the Member States’ group of experts. A draft was submitted to them which includes in the taxonomy specific activities in the nuclear and gas sector. Taking into account scientific advice, technological evolution and the diversity of the challenges that the transition poses to Member States, the Commission has in fact considered that natural gas and nuclear power have a place as energy sources that facilitate the transition to a future based mainly on renewable. Their classification in the taxonomy would be subject to clear and strict defined conditions.
