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Natural gas

EU Lawmakers Vote to Label Natural Gas and Nuclear Power as "Green" Energy Sources

Strategic Insights

— 1 min read

EU lawmakers voted in favor of calling natural gas and nuclear power "green" or "sustainable" sources of energy, sparking criticism from scientists and environmental advocates. The new rules, if accepted by member states, could unlock billions of dollars of private investment and state subsidies for natural gas and nuclear projects. The rules will go into effect in 2023, unless 20 of the union's 27 member states reject them.

Key Takeaways:

  • The European Union lawmakers voted in favor of calling natural gas and nuclear power "green" or "sustainable" sources of energy.
  • The new rules, if accepted by member states, could unlock billions of dollars of private investment and state subsidies for natural gas and nuclear projects.
  • The rules will go into effect in 2023, unless 20 of the union's 27 member states reject them.
  • Most member states, including heavyweights such as Germany and France, backed at least one of the two energy sources.
  • The European Commission has argued that natural gas plays a key role in transitioning to renewable energy, angering climate activists and some lawmakers.
  • Bas Eickhout, a Green lawmaker from the Netherlands, called it a "strategic mistake" and a contradiction to the EU's pleas to rapidly decarbonize their economies.
  • Environmental groups, including Greenpeace and the World Wildlife Federation, plan to challenge the new rules in court.
  • The decision has been met with criticism from climate activists, including Greta Thunberg, who called it "blatant greenwashing" that harms the climate and future generations.

Statistics:

  • 27 member states in the European Union.
  • 20 member states required to reject the new rules for them to not go into effect in 2023.
  • 55% reduction in planet-heating emissions by 2030 from 1990 levels, as per the EU's Green Deal legislation.
  • Net-zero-emissions economy by 2050, as per the EU's Green Deal legislation.
  • $billions of private investment and state subsidies for natural gas and nuclear projects potentially unlocked.

Sources:

  • CNN (European Union lawmakers vote to label natural gas and nuclear power as "green" energy sources)
  • European Parliament (Bas Eickhout's statement on the EU's Green Deal legislation)
  • World Wildlife Federation (press release on the EU's new energy policy)
  • Greenpeace (press release on the EU's new energy policy)

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