Legal & Regulatory News
Taxonomy Regulation: MEPs do not object to inclusion of gas and nuclear activities as environmentally sustainable economic activity
06 July 2022On 6 July 2022, MEP's did not reach the majority of votes required to ratify a joint motion to object to the European Commissions' inclusion of gas and nuclear activities in the Taxonomy Delegated Act ((EU) 2021/2139).
The initial motion was proposed jointly by the Economic and Monetary Affairs Committee and the Environment, Public Health and Food Safety Committee on the 14 June 2022, seeking to object to the Commissions' conclusion that both activities were environmentally sustainable.
The Commission has defended gas and nuclear activities inclusion by arguing there is great advantage to private investment in gas and nuclear energy as "transitional activities," that could be utilised to contribute to climate change mitigation. However, whilst they believe that gas and nuclear activities should be classified as environmentally sustainable activities, covered within the EU Taxonomy regulations, their inclusion is also time-limited and dependent on specific conditions and transparency requirements.
The Taxonomy Delegated Act will now move forward to a vote within the European Council, to which if they do not also provide a formal object, the proposal will come into law as of the 1 January 2023.
Click here to access the press release.
Click here to access the Taxonomy Delegated Act.