Taxonomy: EU court allows climate seal for nuclear power and natural gas

According to a judgment of the European Union’s court, the EU Commission may continue to classify as climate-friendly. The judges in Luxembourg referred a lawsuit against Austria against the so -called taxonomy, as the court said. Against the judgment, the Alpine Republic can proceed before the next higher instance, the Court of Justice of the European Union.

EU wants to promote sustainable investments

Taxonomy is a kind of seal of approval for sustainable financial products. The classification system is intended to support companies and citizens in sustainable investments. Austria criticizes that nuclear energy and fossil gas are classified as an essential contribution to adapting to climate change. Vienna accused Brussels “Greenwashing”, that is, that something is characterized as climate -friendly, although it is not at all. Austria receives a tailwind from environmental organizations that also complained of the classification.

The EU Court had nothing to suspend the EU Commission’s assessment of nuclear energy and gas. The economic activities are therefore generally considered sustainable in the sense of the EU’s taxonomy regulation.

So -called transitional management – for which there are no technically and economically sensible CO2 alternatives – can be sustainable according to this EU regulation. Investments in gas or nuclear power plants, for example, are considered to be climate-friendly if they use the currently emission lowest technologies.

Richter: Atomic energy and gas contribute to security of supply

The Luxembourg judges stated that the generation of atomic energy almost does not cause greenhouse gas emissions and that there are currently no sufficient alternative technologies available in order to constantly and reliably cover the energy requirements.

The court also stated that gas could also make a climate protection contribution. The background is that gas power plants can replace the even more climate -damaging coal -fired power plants. The EU climate seal is part of a “gradual procedure that aims to reduce greenhouse gas emissions in stages and at the same time enable security of care,” emphasized the judges.

“A black day for the climate,” said the board of the environmental protection organization Greenpeace Germany, Martin Kaiser, after the decision. With the classification, billions would flow into gas and atom instead of driving a quick switch to renewable energies. Greenpeace leads a lawsuit with the same thrust in front of the European court.