{"id":3508,"date":"2022-05-31T16:33:25","date_gmt":"2022-05-31T14:33:25","guid":{"rendered":"https:\/\/www.greens-efa.eu\/opinions\/?p=3508"},"modified":"2024-06-06T12:13:56","modified_gmt":"2024-06-06T10:13:56","slug":"eu-taxonomy-stop-the-greenwashing","status":"publish","type":"post","link":"https:\/\/www.greens-efa.eu\/opinions\/eu-taxonomy-stop-the-greenwashing\/","title":{"rendered":"Stop the greenwashing &#8211; 10 reasons why this EU Taxonomy is not green at all"},"content":{"rendered":"<div class=\"lazyblock-border-box-ZBbF3d wp-block-lazyblock-border-box\"><div class=\"boxed pull-sidebar\">\n  <div class=\"offset-border-bg skew\"><\/div>\n  <div class=\"content skew\">\n    <div class=\"skew-reset\">\n      \n<div class=\"boxed\">\n<h3 class=\"wp-block-heading\"><meta charset=\"utf-8\">\u270d\ufe0f <strong>SIGN OUR PETITION:<\/strong><\/h3>\n<\/div>\n\n<div class=\"boxed\">\n<link href=\"https:\/\/actionnetwork.org\/css\/style-embed-whitelabel-v3.css\" rel=\"stylesheet\" type=\"text\/css\"><script src=\"https:\/\/actionnetwork.org\/widgets\/v4\/form\/stop-the-greenwashing-of-nuclear-power-and-gas?format=js&amp;source=widget\"><\/script><div id=\"can-form-area-stop-the-greenwashing-of-nuclear-power-and-gas\" style=\"width: 100%\"><!-- this div is the target for our HTML insertion --><\/div>\n<\/div>\n\n    <\/div>\n  <\/div>\n<\/div><\/div><div class=\"boxed\">\n\n<\/div><div class=\"boxed\">\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow\"><div class=\"boxed\">\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow\"><div class=\"boxed\">\n<p><em>With the EU Taxonomy the European Commission wants to label nuclear energy and gas as &#8220;green&#8221;. Leading up to the decisive plenary vote in July 2022 we will be covering different angles as to why the Greens\/EFA in the European Parliament will not accept this greenwashing. So here are 10 reasons why gas and nuclear energy are not sustainable.<\/em><\/p>\n<\/div><\/div>\n<\/div><\/div>\n\n<div class=\"boxed\">\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow\"><div class=\"boxed\">\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow\"><div class=\"boxed\">\n<p class=\"has-drop-cap has-text-align-right id= has-white-color has-green-dark-background-color has-text-color has-background\" id=\"Evi\">1<strong>  Labelling gas and nuclear energy \u201cgreen\u201d investments would mean financing Putin\u2019s war<br><\/strong>Wednesday, 06 July 2022<br>       <\/p>\n<\/div>\n\n<div class=\"boxed\">\n<figure class=\"wp-block-image alignleft size-thumbnail is-resized is-style-rounded wp-duotone-000000-ffffff-1\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.greens-efa.eu\/opinions\/wp-content\/uploads\/2022\/07\/20190606_EVI_Eleonora_IT_4-150x150.jpg\" alt=\"\" class=\"wp-image-4833\" width=\"75\" height=\"75\"\/><\/figure>\n<\/div>\n\n<div class=\"boxed\">\n<p class=\"has-text-align-left has-green-dark-color has-text-color\" id=\"evi\"><a href=\"https:\/\/twitter.com\/EleonoraEvi\"><strong><strong>Eleonora Evi,<\/strong><\/strong><br><strong>The<\/strong> <strong><strong>Greens\/EFA Member of the European Parliament<\/strong><\/strong><\/a><\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p class=\"has-text-align-right has-dark-color has-text-color\"><\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>Today on Wednesday 6 June we are facing the extremely important vote on whether gas and nuclear label get a sustainability label or not.<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>Labelling it a green investment would mean financing Putin\u2019s war. According to <a href=\"https:\/\/www.greenpeace.org\/eu-unit\/issues\/climate-energy\/46227\/russian-doll-gas-nuclear-lobbying-taxonomy-eu\/\">a recent study by Greenpeace, Russia would earn \u20ac 4 billion more per year <\/a>from an expansion of gas capacity, meaning 32 billion by 2030.<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>While thanks to nuclear power, Rosatom, which is a Russian state company with strong commercial ties to the European nuclear industry, would secure 500 billion in additional investments.<br>Gas has become more than ever a source of energy insecurity and geopolitical risk for our continent.<br>It is no coincidence that the current greenbond market excludes gas and nuclear power. Including them would be counterproductive for banks and financial institutions. They need long-term certainty on the environmental impact of their investments.<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p><br>Everyone knows that nowadays <a href=\"https:\/\/www.weforum.org\/agenda\/2021\/07\/renewables-cheapest-energy-source\/\">the price of renewables is far lower than gas<\/a>. And new nuclear power plants take 15-20 years from planning to operation. Also,<a href=\"https:\/\/www.mr-sustainability.com\/stories\/2021\/nuclear-power-1\"> nuclear power plants are estimated to be 4 times more expensive <\/a>than new onshore solar or wind power plants.<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p><br>The ferocious <a href=\"https:\/\/www.greenpeace.org\/eu-unit\/issues\/climate-energy\/46227\/russian-doll-gas-nuclear-lobbying-taxonomy-eu\/\">lobbying of Russian companies such as Gazprom and Lukoil to include gas and nuclear power in the EU taxonomy<\/a> has been amply demonstrated. This is not a coincidence, considering that the EU Taxonomy would be a gift to Putin to continue to violate the human rights of the Ukrainian people.<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>As the Greens\/EFA in the European Parlament, we have no doubts: gas and nuclear power must stay out of the taxonomy.<\/p>\n<\/div><\/div>\n<\/div><\/div>\n\n<div class=\"boxed\">\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow\"><div class=\"boxed\">\n<p class=\"has-drop-cap has-text-align-right id= has-white-color has-green-dark-background-color has-text-color has-background\" id=\"1\"><strong>2  The Taxonomy Lies<br><\/strong>Tuesday, 05 July 2022<br>       <\/p>\n<\/div>\n\n<div class=\"boxed\">\n<figure class=\"wp-block-image alignleft size-full is-resized is-style-rounded wp-duotone-000000-ffffff-2\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.greens-efa.eu\/opinions\/wp-content\/uploads\/2022\/06\/Hans-Stegeman-Chief-Investment-Strategist-at-Triodos-Investment-Management.jpeg\" alt=\"\" class=\"wp-image-4493\" width=\"75\" height=\"75\" srcset=\"https:\/\/www.greens-efa.eu\/opinions\/wp-content\/uploads\/2022\/06\/Hans-Stegeman-Chief-Investment-Strategist-at-Triodos-Investment-Management.jpeg 450w, https:\/\/www.greens-efa.eu\/opinions\/wp-content\/uploads\/2022\/06\/Hans-Stegeman-Chief-Investment-Strategist-at-Triodos-Investment-Management-300x300.jpeg 300w, https:\/\/www.greens-efa.eu\/opinions\/wp-content\/uploads\/2022\/06\/Hans-Stegeman-Chief-Investment-Strategist-at-Triodos-Investment-Management-150x150.jpeg 150w\" sizes=\"auto, (max-width: 75px) 100vw, 75px\" \/><\/figure>\n<\/div>\n\n<div class=\"boxed\">\n<p class=\"has-text-align-left has-green-dark-color has-text-color\"><strong><strong><a href=\"https:\/\/twitter.com\/hanswstegeman\">Hans Stegeman,<\/a><\/strong><\/strong><br><strong><strong><a href=\"https:\/\/twitter.com\/hanswstegeman\">Chief Investment Strategist at Triodos Investment Management<\/a><\/strong><\/strong><\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p class=\"has-text-align-right has-dark-color has-text-color\"><\/p>\n<\/div>\n\n<div class=\"boxed\">\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n<\/div>\n\n<div class=\"boxed\">\n<p>How is it possible that things always get messed up in the end? The EU taxonomy is (or was) a great and heroic idea to define &#8211; with a science-based approach &#8211; what is a green investment and to end the discussion on greenwashing in the financial sector once and for all. But we ended up with a severely watered-down version that does not serve its own purpose. This is no longer a taxonomy that will help to accelerate the financing of a green transition.<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>Enough has been said about labeling gas and nuclear as \u201csustainable activities\u201d. It is completely wrong. Not science-based but vested-interest based. It also highlights a design flaw in the taxonomy, which was addressed by<a href=\"https:\/\/ec.europa.eu\/info\/sites\/default\/files\/business_economy_euro\/banking_and_finance\/documents\/220329-sustainable-finance-platform-finance-report-environmental-transition-taxonomy_en.pdf\"> the Platform on Sustainable Finance in its March report<\/a>. We should clearly distinguish sustainable, intermediate and neutral activities, with intermediate activities being activities that need to continue to improve their environmental performance levels over time. Natural gas might qualify for that.<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>And that is the relevant discussion: instead of concentrating on the green label, investments might more quickly move to a more sustainable direction if harmful activities were labeled. After all, which investor would think it is a good idea to invest in activities that are officially labeled as \u201charmful\u201d?&nbsp;<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>But for now, it is a lie if someone claims the taxonomy will speed up the energy transition. It speeds up vested interests. And sadly, we have politics to blame for that.<\/p>\n<\/div><\/div>\n<\/div><\/div>\n\n<div class=\"boxed\">\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow\"><div class=\"boxed\">\n<p class=\"has-drop-cap has-text-align-right id= has-white-color has-green-dark-background-color has-text-color has-background\" id=\"cuffe\"><strong>3  Taxonomy will make the cost of living crisis worse, not better<br><\/strong>Friday, 01 July 2022<br>       <\/p>\n<\/div>\n\n<div class=\"boxed\">\n<figure class=\"wp-block-image alignleft size-thumbnail is-resized is-style-rounded wp-duotone-000000-ffffff-3\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.greens-efa.eu\/opinions\/wp-content\/uploads\/2021\/10\/20190529_CUFFE_Ciaran_IE_106-150x150.jpg\" alt=\"CIAR\u00c1N CUFFE\" class=\"wp-image-1211\" width=\"75\" height=\"75\"\/><\/figure>\n<\/div>\n\n<div class=\"boxed\">\n<p class=\"has-text-align-left has-green-dark-color has-text-color\"><a href=\"https:\/\/twitter.com\/CiaranCuffe\"><strong><strong>Ciaran Cuffe,<\/strong><\/strong><br><strong><strong><strong><strong>Greens\/EFA Member of the European Parliament<\/strong><\/strong><\/strong><\/strong><\/a><\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p class=\"has-text-align-right has-dark-color has-text-color\"><\/p>\n<\/div>\n\n<div class=\"boxed\">\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n<\/div>\n\n<div class=\"boxed\">\n<p>Diverting investment towards gas and nuclear, and away from truly green energy sources, will exacerbate the cost-of-living crisis in Europe and increase energy poverty. That is because, while we are still dependent on expensive energy sources like gas and nuclear, households will remain exposed to extreme price volatility in the energy market. <\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>Promoting gas in infrastructure as green also promotes the falsehood that inefficient and faulty gas boilers are the \u201csustainable\u201d choice. In reality, they will lock vulnerable households into energy poverty and an unsustainable future. <\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>Meanwhile, prices of clean, renewable energies are hitting record lows. By choosing to invest in these technologies, we will accelerate our transition towards a highly energy-efficient and fully renewable-based economy. This will reduce energy costs and consumption of fossil fuels. We will also see gains in EU energy sovereignty, energy security, and come closer to meeting our climate targets. For individual households, a fully renewable-based economy means lower energy bills, lower prices, and a healthier environment to live in. It will lift millions out of energy poverty, and will shield every household in Europe from price shocks in the fossil energy markets. We have the technologies and the know-how to make Europe a fully renewable-based economy. So let\u2019s say no to higher prices and more fossil fuels by voting down the EU Taxonomy, and make this economy a reality!<\/p>\n<\/div><\/div>\n<\/div><\/div>\n\n<div class=\"boxed\">\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow\"><div class=\"boxed\">\n<p class=\"has-drop-cap has-text-align-right id= has-white-color has-green-dark-background-color has-text-color has-background\" id=\"1\"><strong>4  Public scrutiny is essential &#8211; citizens\u2019 opinion on the greenwashing of fossil gas and nuclear cannot be ignored<br><\/strong>Wednesday, 29 June 2022<br>       <\/p>\n<\/div>\n\n<div class=\"boxed\">\n<figure class=\"wp-block-image alignleft size-thumbnail is-resized is-style-rounded wp-duotone-000000-ffffff-4\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.greens-efa.eu\/opinions\/wp-content\/uploads\/2022\/07\/20190604_D_AMATO_Rosa_IT_11-150x150.jpg\" alt=\"\" class=\"wp-image-4688\" width=\"75\" height=\"75\"\/><\/figure>\n<\/div>\n\n<div class=\"boxed\">\n<p class=\"has-text-align-left has-green-dark-color has-text-color\" id=\"rosa\"><a href=\"https:\/\/twitter.com\/rosadamato634\"><strong><strong>Rosa D\u2019Amato,<\/strong><\/strong><br><strong><strong><meta charset=\"utf-8\"><strong><strong>Greens\/EFA Member of the European Parliament<\/strong><\/strong><\/strong><\/strong><\/a><\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p class=\"has-text-align-right has-dark-color has-text-color\"><\/p>\n<\/div>\n\n<div class=\"boxed\">\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n<\/div>\n\n<div class=\"boxed\">\n<p>When proposing to include investments in fossil gas and nuclear in the EU Taxonomy, the European Commission failed to respect the basic principles of public participation in the adoption of EU legislation. <br><br>European Institutions have established tools and rules to ensure that the EU decision-making process is fair, transparent and open to citizen\u2019s feedback. These tools include the Better Regulation Guidelines and the Interinstitutional Agreement on Better Law Making. Both were neglected by the Commission in the process which led to the proposal including gas and nuclear in the EU Taxonomy of sustainable investments. <\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>Both these instruments foresee an obligation for the European Commission to open a 4-week public consultation before adopting proposals. This consultation period should give citizens, civil society and any interested stakeholder the right to express their opinion on the decision in question. However, the EU Commission decided not to hold this consultation before proposing to classify gas and nuclear as sustainable with the EU Taxonomy. <\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>The inclusion of gas and nuclear in the EU Taxonomy would have enormous consequences on the environment, on the future of our energy system, on the market, on investors, on public funds and on citizens. It is therefore essential that it is subject to public scrutiny. The draft to label gas and nuclear energy as green has received strong criticism from citizens, civil society, academics, policy makers and investors. All these voices have been ignored. One more reason to vote this Delegated Act down!<\/p>\n<\/div><\/div>\n<\/div><\/div>\n\n<div class=\"boxed\">\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow\"><div class=\"boxed\">\n<p class=\"has-drop-cap has-text-align-right id= has-white-color has-green-dark-background-color has-text-color has-background\" id=\"sovereignty\"><strong>5  <strong>There will be no European energy sovereignty with the Greenwashing of gas and nuclear<\/strong><br><\/strong>Monday, 27 June 2022<br>       <\/p>\n<\/div>\n\n<div class=\"boxed\">\n<figure class=\"wp-block-image alignleft size-thumbnail is-resized is-style-rounded wp-duotone-000000-ffffff-5\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.greens-efa.eu\/opinions\/wp-content\/uploads\/2022\/06\/20190528_PAULUS_JUTTA_DE_2-150x150.jpg\" alt=\"\" class=\"wp-image-4583\" width=\"75\" height=\"75\"\/><\/figure>\n<\/div>\n\n<div class=\"boxed\">\n<p class=\"has-text-align-left has-green-dark-color has-text-color\"><a href=\"https:\/\/twitter.com\/JuttaPaulusRLP\"><strong><strong>Jutta Paulus,<\/strong><\/strong><br><strong><strong>Greens\/EFA Member of the European Parliament<\/strong><\/strong><\/a><\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p class=\"has-text-align-right has-dark-color has-text-color\"><\/p>\n<\/div>\n\n<div class=\"boxed\">\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n<\/div>\n\n<div class=\"boxed\">\n<p>There will be no European energy sovereignty by greenwashing gas and nuclear.<br>At the moment the EU is highly dependent on fossil and uranium imports. We import 70 percent of our hard coal, 90 percent of our gas demand, 97 percent of our oil demand, and even 100 percent of our uranium.<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>From Russia alone, the EU imports 40 percent of its gas and 20 percent of its uranium demand. Besides the import of gas and fuel rods, Europe is highly dependent on Russian infrastructure and spare parts for running nuclear power plants, primarily in Central and Eastern Europe.<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>This is why President Putin will pop champagne bottles if the EU Taxonomy will not be stopped by the European Parliament.<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>We need a massive expansion of renewables and an immediate energy efficiency program so Europe can achieve a sustainable energy supply and turn off Putin\u2019s money tap.<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>Including nuclear and fossil gas into the taxonomy, even when labelled as \u201ctransitional\u201d or \u201cenabling\u201d, will set these technologies on equal footing with solar and wind.<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>Instead of giving incentives to pump money into technology that is harmful to our climate the European Commission should steer its energy into fulfilling the European Green Deal.<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>This is why we will vote down the EU Taxonomy! <\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>#NotMyTaxonomy<\/p>\n<\/div><\/div>\n<\/div><\/div>\n\n<div class=\"boxed\">\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow\"><div class=\"boxed\">\n<p class=\"has-drop-cap has-text-align-right id= has-white-color has-green-dark-background-color has-text-color has-background\" id=\"2\">6 <strong>Follow the science &#8211; to save the climate fossil gas needs to stay in the ground.<em><br><\/em><\/strong>Thursday, 23 June 2022<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<figure class=\"wp-block-image alignleft size-thumbnail is-resized is-style-rounded wp-duotone-000000-ffffff-6\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.greens-efa.eu\/opinions\/wp-content\/uploads\/2022\/06\/20190611_TOUSSAINT_Marie_violette_FR_67-150x150.jpg\" alt=\"\" class=\"wp-image-4485\" width=\"75\" height=\"75\"\/><\/figure>\n<\/div>\n\n<div class=\"boxed\">\n<p class=\"has-text-align-left has-green-dark-color has-text-color\"><strong><a href=\"https:\/\/twitter.com\/marietouss1\" target=\"_blank\" rel=\"noreferrer noopener\">Marie Toussaint,<\/a><\/strong><br><a href=\"https:\/\/twitter.com\/marietouss1\" target=\"_blank\" rel=\"noreferrer noopener\">the Greens\/EFA Member of European Parliament<\/a><\/p>\n<\/div>\n\n<div class=\"boxed\">\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n<\/div>\n\n<div class=\"boxed\">\n<p class=\"has-text-align-left\">To fight climate change, we need clarity and leadership on the best way forward. But the European Commission is doing the exact opposite. They have proposed to label investments in fossil gas and nuclear power as &#8220;green investments&#8221; in the EU taxonomy. This goes against science. It gives the wrong signal to private investors and diverts European public money. We desperately need to promote energy savings and renewables. This is why this EU taxonomy must be rejected.&nbsp;<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>I won&#8217;t even waste time explaining again why nuclear power is just about the most expensive and dangerous energy in the world. As for gas &#8211; the International Energy Agency itself calls for a halt to all new fossil fuel projects.&nbsp;<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>Even the European Commission&#8217;s own estimates state that the European Union must have reduced its gas consumption by at least 36% by 2030, and that we have to be completely off gas within a decade. Gas cannot therefore be given a green label!&nbsp;<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>The EU is caught in a contradiction: it pushed for the inclusion of the end of fossil fuel subsidies in the Glasgow Climate Agreement. On the other hand, by designating gas as &#8220;green&#8221;, it will stimulate investment in gas. This would have a disastrous global impact and would turn its back on the objective of keeping global warming to 1.5\u00b0C.&nbsp;<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>Boosting gas investments is not a transitional measure, but a full-scale attack on the climate. Together, let&#8217;s reject the taxonomy&#8217;s delegated act on gas and nuclear!<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p><\/p>\n<\/div><\/div>\n<\/div><\/div>\n\n<div class=\"boxed\">\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow\"><div class=\"boxed\">\n<p class=\"has-drop-cap has-text-align-right id= has-white-color has-green-dark-background-color has-text-color has-background\" id=\"3\"><em><strong>7 <span>The European Commission itself&nbsp;<span style=\"font-weight: 600;\"><i>says: O<\/i><\/span><\/span>nly clean energy should be labelled as sustainable.<span><i><br><\/i><\/span><\/strong><\/em>Thursday, 02 June 2022<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<figure class=\"wp-block-image alignleft size-thumbnail is-resized is-style-rounded wp-duotone-000000-ffffff-7\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.greens-efa.eu\/opinions\/wp-content\/uploads\/2021\/11\/190464_ThomasWAITZ-150x150.jpg\" alt=\"Thomas Waitz MEP Greens\/EFA\" class=\"wp-image-1464\" width=\"75\" height=\"75\"\/><\/figure>\n<\/div>\n\n<div class=\"boxed\">\n<p class=\"has-text-align-left has-green-dark-color has-text-color\"><a href=\"https:\/\/twitter.com\/thomaswaitz\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Thomas Waitz,<\/strong><\/a><br><a href=\"https:\/\/twitter.com\/thomaswaitz\" target=\"_blank\" rel=\"noreferrer noopener\">the Greens\/EFA Member of European Parliament<\/a><\/p>\n<\/div>\n\n<div class=\"boxed\">\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n<\/div>\n\n<div class=\"boxed\">\n<p class=\"has-text-align-left\">According to the European Commission\u2019s proposal itself, investments should only be labeled green if they firstly contribute to climate mitigation and adaptation and secondly <em>do no significant harm<\/em>.&nbsp;<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>But if there is one thing certain, then that The EU-Commission\u2019s proposal to include gas and nuclear energy production in the Taxonomy regulation does <em>significant<\/em> harm to the consumer\u2019s trust by including nuclear energy in the list of investments that are considered sustainable.<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>And here&#8217;s why: We simply cannot build a circular economy on the uranium fuel cycle. Uranium is, per definition, a limited, non-renewable resource. In addition, <a href=\"https:\/\/edubirdie.com\/wp-content\/uploads\/2024\/02\/cost-of-energy-report.pdf\">nuclear energy is already the most expensive form of energy according to recent studies<\/a>. And that is even when we are excluding the unforeseeable costs to future generations for storing and destroying the waste.\u00a0<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>Looking at the enormous risks that nuclear energy poses to life on earth, we cannot switch to investing into renewable energy fast enough. Building new nuclear power plants takes time and valuable resources. Projects currently under construction are already facing massive delays. It can take several decades before a new nuclear power plant is operational. We don\u2019t have that kind of time. Let\u2019s encourage companies to invest into clean and renewable sources of energy instead of labeling investments into nuclear energy as \u201cgreen\u201d.<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>Therefore we are going to &#8220;<em>do no significant harm<\/em>&#8221; by objecting to the European Commission\u2019s proposal on the EU Taxonomy.<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p><\/p>\n<\/div><\/div>\n<\/div><\/div>\n\n<div class=\"boxed\">\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow\"><div class=\"boxed\">\n<p class=\"has-drop-cap has-text-align-right id= has-white-color has-green-dark-background-color has-text-color has-background\" id=\"4\"><strong>8 No time to waste &#8211; <em>The EU Taxonomy should be promoting truly sustainable investments&nbsp;now.<\/em><br><\/strong>Wednesday, 01 June 2022<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<figure class=\"wp-block-image alignleft size-thumbnail is-resized is-style-rounded wp-duotone-000000-ffffff-8\"><a href=\"https:\/\/www.greens-efa.eu\/en\/person\/eickhout-bas\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.greens-efa.eu\/opinions\/wp-content\/uploads\/2021\/10\/20190624_EICKHOUT_BAS_NL_008-150x150.jpg\" alt=\"\" class=\"wp-image-833\" width=\"75\" height=\"75\"\/><\/a><\/figure>\n<\/div>\n\n<div class=\"boxed\">\n<p class=\"has-green-dark-color has-text-color\"><strong><a href=\"https:\/\/www.greens-efa.eu\/en\/person\/eickhout-bas\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Bas Eickhout<\/strong><\/a><\/strong>,<strong><a href=\"https:\/\/www.greens-efa.eu\/en\/person\/eickhout-bas\" target=\"_blank\" rel=\"noreferrer noopener\"> <\/a><\/strong><br><strong><a href=\"https:\/\/www.greens-efa.eu\/en\/person\/eickhout-bas\">the Greens\/EFA Member of European Parliament<\/a><\/strong><\/p>\n<\/div>\n\n<div class=\"boxed\">\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n<\/div>\n\n<div class=\"boxed\">\n<p>To keep our planet liveable we need billions of investment towards sustainability. But the EU is at risk of failing in its massive task of steering these investments towards those economic activities that we need in the next decades to survive.<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>At the last climate summit in Glasgow, the world moved slowly but surely in the direction of phasing out fossil fuels. With the decision made by the European Commission, the EU now risks turning the clock backwards by&nbsp; including both fossil gas and nuclear power in the taxonomy for sustainable investments. In the upcoming weeks, the European Parliament has a last chance to stop this.<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>The EU Taxonomy is increasingly used as a reference for European and even global investments. Classifying fossil gas and nuclear energy as \u2018sustainable\u2019 would strike at the foundations of virtually all EU policies to increase the sustainability of investments.&nbsp;<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>We are facing a climate crisis, a cost-of-living crisis and the war in Ukraine. This means that the EU urgently needs to become independent of Russian uranium and gas. Artificial incentives to invest in expensive nuclear and dirty fossil energy at the expense of renewables and other sustainable sectors is the last thing we need.&nbsp;<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>The European Parliament has the power to make sure that the EU Taxonomy remains an instrument for promoting truly sustainable investments. We need to block the attempt to paint gas and nuclear energy green.<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>Let\u2019s stop the greenwashing. Stop this Taxonomy now!<\/p>\n<\/div><\/div>\n<\/div><\/div><\/div>\n<\/div><\/div>\n\n<div class=\"boxed\">\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow\"><div class=\"boxed\">\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow\"><div class=\"boxed\">\n<p class=\"has-drop-cap has-text-align-right id= has-white-color has-green-dark-background-color has-text-color has-background\" id=\"5\">9 <strong><em>The EU Taxonomy is a financial and environmental threat to younger generations. We will not accept it!<br><\/em><\/strong>Wednesday, 01 June 2022<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<figure class=\"wp-block-image alignleft size-thumbnail is-resized is-style-rounded wp-duotone-000000-ffffff-9\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.greens-efa.eu\/opinions\/wp-content\/uploads\/2021\/10\/IMG-20180719-WA00551-Copia-150x150.jpg\" alt=\"\" class=\"wp-image-1146\" width=\"75\" height=\"75\"\/><\/figure>\n<\/div>\n\n<div class=\"boxed\">\n<figure class=\"wp-block-image alignleft size-thumbnail is-resized is-style-rounded wp-duotone-000000-ffffff-10\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.greens-efa.eu\/opinions\/wp-content\/uploads\/2021\/10\/photo6046190729082024483-e1635530491195-150x150.jpg\" alt=\"Martina Comparelli\" class=\"wp-image-1147\" width=\"75\" height=\"75\"\/><\/figure>\n<\/div>\n\n<div class=\"boxed\">\n<p class=\"has-green-dark-color has-text-color\"><strong>Fridays for Future climate activists Martina Comparelli &amp; Marco Pit\u00f2 criticise the EU Taxonom<strong><strong>y<\/strong><\/strong><\/strong><\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>Climate activists all around the world agree: the European Commission cannot get away with a misleading EU taxonomy on sustainable investments.<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>On January 13th, we youth activists from all over Europe protested with two handcrafted fossil gas plant cooling towers provided by Greenpeace. They were painted green, the same way that the European Commission is greenwashing gas plants with this EU Taxonomy.<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>We still have a chance to stop this. Until the beginning of July we need to convince at least 353 Members of the European Parliament to block this EU Taxonomy.<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>Join in and help us to spread the word. Come to a protest or organise one, write to your MEPs. And never lose hope. We will not accept this scam. Not for our generation and not for the ones to come.<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p><a href=\"https:\/\/www.greens-efa.eu\/opinions\/eu-taxonomy-is-a-financial-and-environmental-threat-to-younger-generations-and-we-will-not-accept-it\/\">Read here, why this EU taxonomy is a financial and environmental threat to younger generations.<\/a><\/p>\n<\/div>\n\n<div class=\"boxed\">\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Today, the <a href=\"https:\/\/twitter.com\/EU_Commission?ref_src=twsrc%5Etfw\">@EU_Commission<\/a> has published its final draft of the <a href=\"https:\/\/twitter.com\/hashtag\/taxonomy?src=hash&amp;ref_src=twsrc%5Etfw\">#taxonomy<\/a>. It still includes classifying fossil gas and nuclear power as &#39;sustainable&#39; investments. \u274c<br><br>Sign our petition to stop it \u27a1\ufe0f <a href=\"https:\/\/t.co\/FjxnCOiEEa\">https:\/\/t.co\/FjxnCOiEEa<\/a><br><br>A thread on why this plan is horrible. \u2b07\ufe0f <a href=\"https:\/\/t.co\/ZJk03dDxnI\">pic.twitter.com\/ZJk03dDxnI<\/a><\/p>&mdash; Greens\/EFA in the EU Parliament \ud83c\udf0d (@GreensEFA) <a href=\"https:\/\/twitter.com\/GreensEFA\/status\/1488859449880100873?ref_src=twsrc%5Etfw\">February 2, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\n<div class=\"boxed\">\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow\"><div class=\"boxed\">\n<p class=\"has-text-align-right id= has-white-color has-green-dark-background-color has-text-color has-background\" id=\"6\"> <strong><em>Stop the EU Taxonomy &#8211; We need to stick to the Paris Agreement and invest in a green future instead<br><\/em><\/strong>Wednesday, 01 June 2022<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<figure class=\"wp-block-image alignleft size-thumbnail is-resized is-style-rounded wp-duotone-000000-ffffff-11\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.greens-efa.eu\/opinions\/wp-content\/uploads\/2021\/11\/Hedvig-Sveistrup-bw2-150x150.jpg\" alt=\"\" class=\"wp-image-1536\" width=\"75\" height=\"75\"\/><\/figure>\n<\/div>\n\n<div class=\"boxed\">\n<p class=\"has-green-dark-color has-text-color\"><strong>The Greens\/EFA Climate Campaigner, Hedvig Sveistrup<\/strong><\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>In December 2021, the European Commission adopted a list of criteria for sustainable investment, the EU &#8220;Taxonomy&#8221;. With the Taxonomy Regulation, the European Commission wants to set a standard for which investments made in the EU are sustainable and which ones are not.<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>This EU Taxonomy for sustainable investments should ensure that that EU countries and companies are encouraged to invest climate friendly. This way these investments would be more in line with the EU\u2019s Green Deal and the climate targets of the Paris Agreement.<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>But this list has a major error: the Commission&#8217;s announcement also classified investments in gas and nuclear power as sustainable. And this is despite us all knowing that fossil gas and nuclear energy cause considerable harm to the environment and contribute to global warming.<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>This is greenwashing of energy technologies that are harmful to climate and to the environment, and it must be stopped!<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>Leading up to the plenary vote in July we will be covering different angles as to why the Greens\/EFA in the European Parliament will not accept this greenwashing, this EU Taxonomy.<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>We need the EU to encourage truly green investments and renewable energies to move away from fossil gas and energy dependence and to stop the climate crisis.<\/p>\n<\/div><\/div>\n<\/div><\/div><\/div>\n<\/div><\/div>\n\n<div class=\"boxed\">\n<p>\u270d\ufe0f <strong>Sign our petition to<a href=\"https:\/\/act.greens-efa.eu\/stopgreenwashing\"> stop the greenwashing<\/a> and follow us here for weekly updates on the EU Taxonomy.<\/strong><\/p>\n<\/div>\n\n<div class=\"boxed\">\n<h5 class=\"wp-block-heading\"><strong>Nuclear energy is not sustainable &#8211; So let&#8217;s not label it as such<\/strong><\/h5>\n<\/div>\n\n<div class=\"boxed\">\n<p>Nuclear energy is not without risks and places a burden on future generations, as accidents with huge consequences in Fukushima and Chernobyl show. Nuclear waste is dangerous for generations to come. Uranium mining and milling, and the storage and disposal of high-level radioactive waste and spent fuel do not respect the taxonomy law requirement to prevent significant harm to any environmental objective.&nbsp;<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>Let\u2019s rather invest in making energy use more efficient and in the development of renewable energy. Renewable energy sources, such as wind and solar, lead to much faster greenhouse gas reductions.&nbsp;<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<h5 class=\"wp-block-heading\"><strong>How will we achieve climate neutrality? Not with the EU Taxonomy<\/strong><\/h5>\n<\/div>\n\n<div class=\"boxed\">\n<p>New investments in fossil activities such as gas-fired power plants are incompatible with the goal to achieve carbon neutrality in 2050 as the International Energy Agency (IEA) has recently confirmed. We have to stop fossil investments already from the year 2022 onwards to keep in line with the 1,5 degree temperature goal.<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>Why is the EU then encouraging private gas investments when at the same time the EU rightly called for the ending of fossil subsidies at the COP26?<\/p>\n<\/div>\n\n<div class=\"boxed\">\n<p>Stop this Taxonomy and sign our petition above!<\/p>\n<\/div><\/div>\n<\/div><\/div><div class=\"boxed\">\n\n<\/div><div class=\"boxed\">\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Greens\/EFA MEP Eickhout warns: Greenwashing gas and nuclear power in the taxonomy is a huge mistake!\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/Q9f537Uy73A?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n<\/div><div class=\"boxed\">\n\n<\/div><div class=\"boxed\">\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n<\/div><div class=\"boxed\">\n\n<\/div><div class=\"boxed\">\n<p><\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Leading up to plenary vote in July we will be covering different angles as to why the Greens\/EFA in the European Parliament will not accept this greenwashing, this EU Taxonomy.<\/p>\n","protected":false},"author":2,"featured_media":3637,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"mp_greens_extranet_document_id":9697,"mp_greens_extranet_translation_id":0,"mp_greens_extranet_lang":"en","footnotes":""},"categories":[1],"tags":[4,10,9,8],"class_list":["post-3508","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-allgemein","tag-climate","tag-gas","tag-nuclear","tag-taxonomy"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stop the EU Taxonomy - Why we need to invest in a green future instead<\/title>\n<meta name=\"description\" content=\"The EU Taxonomy could be a great tool to promote sustainable investments. 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