ERCST Reflection Note – Gas and nuclear energy in the EU Taxonomyelena
Author(s): Andrei Marcu, Olivier Imbault, Bartek Czyczerski, Elena Bonfiglio
The EU Taxonomy was introduced in 2020 by the EU institutions as a classification system (“dictionary”), which gives guidance to investors with respect to economic activities that contribute significantly to a sustainable economy and society. The declared goal is to direct the flow of private capital to finance transition towards a sustainable economy and to avoid the misuse of green labelling.
Within this framework, in February 2022 the European Commission adopted the Complementary Delegated Act that contains the criteria to qualify nuclear energy and gas as significantly contributing to the climate objective. However, the political debate around this decision has been polarising and is to a large degree ideological.
In this reflection note, ERCST comments on the treatment of gas and nuclear energy in the EU Taxonomy.