In the face of intense debate on whether or not to include gas and nuclear in the EU taxonomy, the European Commission has reportedly finally decided to leave the gas issue in abeyance, as was already the case for nuclear.
According to a draft Commission document dated 14 April, the institution intends to present a legislative proposal in the fourth quarter of 2021, specifically covering how certain economic activities, mainly in the energy sector, contribute to decarbonisation.
This document, obtained by EUROPE, is the first draft of the Commission’s communication on the European taxonomy and reporting of corporate sustainability information, which is expected to be presented on 21 April.
It points out that the preparatory phase leading up to the adoption of the first delegated act on the taxonomy - establishing the criteria for the climate taxonomy (see EUROPE 12684/3) - “has highlighted different opinions expressed by MEPs, member states and stakeholders as regards to the potential inclusion in the taxonomy delegated act of natural gas and related technologies, notably as a transitional activity facilitating the switch from coal and oil to renewables” (see EUROPE 12698/6).
It added: “A similar level public interest and debate surrounding the question of the inclusion of nuclear technology (...) is taking place”.
According to the Commission, doing so will allow the co-legislators to have a “transparent debate” on the contribution of natural gas and nuclear power to decarbonisation objectives, while at the same time providing clarity to investors, in a timely manner, on how gas and nuclear investments should be treated from an environmental perspective.
See the draft: https://bit.ly/3uZb4k1 (Original version in French by Damien Genicot)