6 July 2022
Today, Wednesday July 6th, was a major loss for the EU's green investment label and a setback for the European Green Deal. The European Parliament voted on the Commission's Delegated Act to the EU's Sustainable Taxonomy – a proposal to include fossil gas and nuclear under the EU's classification of sustainable investments. The vote resulted in 278 MEPs opposing the taxonomy, while an absolute majority of 353 votes was needed. This vote comes after months of debate, and a joint ENVI/ECON vote on the 14th of June, where MEPs clearly voted against the Commission's attempted greenwashing.
Greens stand firmly together with civil society and activists: neither gas nor nuclear are sustainable. This undermines the reliability of the EU's label for green investments.
A sustainable taxonomy that includes unsustainable, dirty energy will misdirect funds from a 100% renewable future and deepen our reliance on fuel imports from Russia.
This outcome ignores the clear science, costs us a vital tool for a stable investment market in the EU and globally, will increase our dependence on foreign imported fuels, and harms our environment and our climate. All while redirecting funds from the critical energy transition. But the fight is not over: Austria and Luxembourg, where Greens are in government, have already announced they will challenge the Commission in court.
Thomas Waitz, Co-Chair of the European Green Party and Member of the European Parliament comments:
"This is a catastrophic loss for the EU's leadership on labelling green investments. To put fossil gas and nuclear in the same category as clean renewables, is textbook greenwashing. The majority of EPP and Renew caved in to the alliance of nuclear and fossil fuel lobbyists, who managed to push their trick through, at the expense of our safe future.
The fossil alliance fought hard against the science, and frankly, common sense. This greenwashing will do nothing but deepen our reliance on Russian fuels and lock us further into climate chaos. As Greens, we will fight hard to overcome this setback, together with civil society and activists. The fight for a clean, sustainable future is not over."
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