European Commission Adopts Climate Framework for Nuclear, Gas Investment
European Commission Adopts Climate Framework for Nuclear, Gas Investment
The European Commission has presented a Taxonomy Complementary Climate Delegated Act on climate change mitigation and adaptation inclusive of certain gas and nuclear technologies on the pathway to climate neutrality. The Taxonomy classification does not determine whether a certain technology will or will not be part of Member State energy mixes. The objective is to step up the transition by drawing on all possible solutions to help reach climate goals.
The text sets out conditions under which certain nuclear and gas technologies can be added as transitional activities to those already covered by the first Delegated Act on climate mitigation and adaptation, applicable since January 1, 2022. Conditions include, for both gas and nuclear, that they contribute to the transition to climate neutrality; for nuclear, that it fulfils nuclear and environmental safety requirements; and for gas, that it contributes to the transition from coal to renewables. More specific additional conditions apply for all the above activities and are specified in the Complementary Delegated Act.
Mairead McGuinness, Commissioner in charge of Financial Services, Financial Stability, and Capital Markets Union, said: “I welcome the outcome of this vote. The Complementary Delegated Act is a pragmatic proposal to ensure that private investments in gas and nuclear, needed for our energy transition, meet strict criteria. Investment in renewables is already prioritized in our Taxonomy - this is our future. Our proposal ensures transparency so investors will know what they are investing in. Today brings much needed clarity to the EU position.”
The European Green Deal is Europe’s growth strategy that aims to make Europe climate-neutral by 2050. ASME’s standards and certification programs for energy infrastructure help ensure the safe, reliable generation of low-carbon energy. ASME will continue to collaborate with its European and global partners to ensure nuclear is a part of the solution for a greener future.
For additional information on the EU’s Complementary Delegated Act on climate change mitigation and adaptation, visit: https://ec.europa.eu/commission/presscorner/detail/en/IP_22_4349
The text sets out conditions under which certain nuclear and gas technologies can be added as transitional activities to those already covered by the first Delegated Act on climate mitigation and adaptation, applicable since January 1, 2022. Conditions include, for both gas and nuclear, that they contribute to the transition to climate neutrality; for nuclear, that it fulfils nuclear and environmental safety requirements; and for gas, that it contributes to the transition from coal to renewables. More specific additional conditions apply for all the above activities and are specified in the Complementary Delegated Act.
Mairead McGuinness, Commissioner in charge of Financial Services, Financial Stability, and Capital Markets Union, said: “I welcome the outcome of this vote. The Complementary Delegated Act is a pragmatic proposal to ensure that private investments in gas and nuclear, needed for our energy transition, meet strict criteria. Investment in renewables is already prioritized in our Taxonomy - this is our future. Our proposal ensures transparency so investors will know what they are investing in. Today brings much needed clarity to the EU position.”
The European Green Deal is Europe’s growth strategy that aims to make Europe climate-neutral by 2050. ASME’s standards and certification programs for energy infrastructure help ensure the safe, reliable generation of low-carbon energy. ASME will continue to collaborate with its European and global partners to ensure nuclear is a part of the solution for a greener future.
For additional information on the EU’s Complementary Delegated Act on climate change mitigation and adaptation, visit: https://ec.europa.eu/commission/presscorner/detail/en/IP_22_4349
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