EU dilutes Taxonomy by granting gas power plants a 'green' chit

Europe
On the 03.24.21 at 8:00AM

by

Tuba Raqshan

The European Commission has yielded under political pressure from several countries calling for the inclusion of gas power plants as sustainable investments in the draft sustainable finance taxonomy rules, which it has accepted, much to the chagrin of scientists, NGOs and financial institutions.

When the Commission had published its first draft of the delegated acts of the sustainable finance taxonomy rules, it faced stiff political pressure from 10 European countries, complaining that gas power plants have been excluded

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