'Institutional greenwashing': MEPs back 'green' investment labels for fossil gas and nuclear projects

328 MEPs voted against

Michael Holder
clock • 4 min read

Green groups threaten legal action after EU Parliament votes to retain fossil gas and nuclear projects in green finance labelling system

The European Parliament has today backed the classification of fossil gas and nuclear power projects as 'green' investments in the EU's sustainable finance labelling system, in a controversial vote that was quickly slammed by environmental groups as "an act of institutional greenwashing". In a relatively close vote, 328 MEPs voted against a proposal to remove gas and nuclear from the European Commission's draft green taxonomy rules, with 278 in favour and 33 abstentions. Several years in development, the EU Taxonomy aims to draw up a clear framework for what projects constitute a 'gre...

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