BRUSSELS: The European Commission announced that natural gas and nuclear energy have been added to the EU's taxonomy of sustainable private-sector investments.
The European Commission includes natural gas and nuclear energy in its plan for building a climate-friendly future, labelling investments in natural gas and nuclear projects sustainable under certain conditions, according to a Taxonomy Complementary Climate Delegated Act on climate change mitigation and adaptation.
The European Commission announced on Twitter that "the inclusion of nuclear and natural gas in the taxonomy comes with conditions linked with their usage and protections against major environmental harm."
"In order to make an informed investment decision, investors must be able to clearly understand if an investment incorporates natural gas or nuclear activities, and to what extent," it continued.
Because public investment alone will not be sufficient to fund the EU's transition to carbon neutrality, its taxonomy serves as a guide for private investments that will assist the bloc achieve its goal.
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