Brussels faces risk of crime and the suspension of its EU monetary policy that does not require nuclear or gas power. so-called green investments.
Officials from Austria and Luxembourg told the Financial Times that they would file a lawsuit against the European Commission over the so-called green taxonomy, while the Spanish prime minister said Madrid could choose to use its own green methods, with the exception of nuclear weapons. energy and gas.
The concerns are mounting at the European Commission, which says that nuclear technology and other forms of natural gas should be selected as fixed funds under strict regulations designed to help eliminate green damage in the financial sector.
The anti-nuclear powers in Austria and Luxembourg have begun preparing a case against the Committee if the rules are approved in their new constitution. They argue that nuclear power, which does not contain carbon dioxide but emits toxic and hazardous radioactive waste, violates EU law “do not damage” the environment.
“There is a strong and powerful dispute going to the European Court of Justice if the committee decides to proceed and the tax will be implemented,” said Leonore Gewessler, Austria’s green minister. “We need to make sure that the financial markets are aligned with other forms of energy efficiency.”
Opponents of taxonomy are seeking legal action to challenge the bill as it is about to be approved by a pro-gas and pro-nuclear EU alliance in the coming months. The bill can be revoked only if it is rejected by most countries and members of the European Parliament.
The taxonomy policy puts in factories that produce about 80 percent of the EU’s greenhouse gas emissions, in an effort to help investors save on sustainable resources. Registration measures can be applied to financial matters and green bonds, and improve the way the EU government is affecting climate change.
But the project, which began three years ago, has been embroiled in a power struggle with autonomy, with gas-promoting countries in Eastern Europe and nuclear powers such as France demanding that the laws not punish power sources that provide energy. many of which require electricity and are very important in converting to zero emissions.
The German coalition government is divided over the tax evasion of the anti-nuclear Greens and its many gas allies, the Free Democrats. On Saturday, German Finance Minister Robert Habeck and Minister of Environment Steffi Lemke said that if the draft did not change, the German government would reject it.
Teresa Ribera, Spain’s deputy prime minister of natural resources, said the division of nuclear weapons and gas was a “mistake” that did not prepare the EU for carbon emissions by 2050. to provide green bonds instead of using EU taxonomy as a basis of his debts.
“If it fits our needs and priorities, we will use our resources,” Ribera said. “So there may be different standards: the silver standard at EU level and the gold standard, at the level of other member states.”
Claude Turmes, Luxembourg’s minister of energy, who will co-sponsor the case with Austria, also said there was a risk that, instead of providing a fair standard of living, taxonomy “would make countries run on their own”.
Legal uncertainty hinders the establishment of taxonomy among investors who want to align their portfolios with zero-emission targets. The Institutional Investors Group on Climate Change, whose members own € 50tn assets under their control, has warned that the merger of gas could create an “unnecessary head” for investors with green ambitions.
An independent group of consultants who helped the European Commission enact the legislation also demanded major changes, including the fact that air must have a green mark if it emits less than 100g of CO2 per kilowatt / hour by removing pollutants such as coal.
Marta Toporek, a lawyer for ClientEarth, said the current taxonomy “violates a number of EU rules, including the EU’s actions under the Paris Agreement, European Climate Law and Taxonomy Regulation itself”.
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