EU eyes separate gas law, leaves harmful bioenergy in Taxonomy

West Burton power station carbon climate from Alamy 15Apr21 575x375
By Jon Hay
15 Apr 2021

The European Commission is set to put forward a new solution to the intense battle over the EU's sustainable finance Taxonomy, between green finance supporters and EU member states that want to safeguard their plans to use gas, GlobalCapital has learned. This would appear to involve leaving gas out of the sustainable category of the Taxonomy, as environmentalists have demanded, and making a "separate legislative proposal" to deal with gas and nuclear power.

According to an internal draft of a communication that commissioner Mairead McGuinness plans to send out on April 21, seen by GlobalCapital, the delegated act (secondary legislation) implementing the Taxonomy will be published that day, but without the controversial sections concerning fossil gas.

Market participants' first reaction to the leak ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial