Sustainability Blog

Taxonomy Text Agreed for Gas and Nuclear

By Simon Johns - Feb 14, 2022

At the start of February, the European Commission finalized the proposal to add nuclear energy and natural gas-fired power generation to the European Union’s sustainable finance taxonomy, “subject to clear limits and phase-out periods.” 

Nuclear energy is arguably better placed in a renewable fuels mix, as long as there is proper provision for waste management and decommissioning. At 6 grams of carbon dioxide equivalent per kilowatt hour, it is a fraction of gas, which has carbon intensity of 418 gCO2e/kWh, four times the EU’s classification limit.

EcoAct, a climate consultancy based in London, argues that including gas in the taxonomy could lead to capital flows to the natural gas sector and delay the EU’s net-zero transition. The firm also thinks the move undermines the taxonomy’s robustness.

More on this here.

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