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06 July 2022

Greenwashing unleashed – European Parliament rubber-stamps nuclear and fossil gas as green in Taxonomy

The European Parliament has just rejected a veto to the inclusion of fossil gas and nuclear energy in the EU Taxonomy, an official list of environmentally sustainable investments, with 328 votes against, 278 in favour, and 33 abstentions.

Mathilde Crêpy, Senior Programme Manager at Environmental Coalition on Standards (ECOS), said:

The European Parliament has just rubber-stamped fossil gas as a green investment. This decision will result in massive state-sponsored greenwashing. Gas plants will now be able to receive money, labelled as green, that could be otherwise destined for renewable energy, such as wind or solar. We are witnessing greenwashing at its best, coming from those who aspire to be the world’s first climate-neutral continent.  

Background:

ECOS is one of the 50+ members of a Platform on Sustainable Finance created by the European Commission in October 2020 to inform the development of the EU Taxonomy.

The EU Taxonomy is a science-based classification system established to clarify which investments are sustainable. The aim is to prevent greenwashing and help investors assess whether investments are consistent with policy commitments like the EU Green Deal.
 
Contacts: 

Ivo Cabral, press & communications manager at ECOS – ivo.cabral@ecostandard.org

Mathilde Crêpy, senior programme manager at ECOS – mathilde.crepy@ecostandard.org
Related work area

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ECOS is co-funded by the European Commission and EFTA Funded by the European Union. Views and opinions expressed are however those of the author(s) only and do not necessarily reflect those of the European Union or EISMEA. Neither the European Union nor the granting authority can be held responsible for them.

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