1.3.22
The European Commission, the EU’s executive arm, is facing criticism over its plans to classify natural gas and nuclear energy as “green” investments. The proposal introduced late on New Year’s Eve will be included in the EU’s taxonomy and intends to provide a common set of definitions of what constitutes a “sustainable investment” in Europe. Many market observers are arguing that the proposal contradicts the EU’s goal of preventing “greenwashing” and reaching net zero emissions by 2050. The European Commission has begun consultations with EU countries on the proposal and is expected to face heavy opposition from leaders.