'Biggest greenwashing exercise of all time': EU includes fossil gas in plans

Sustainable investment taxonomy

Criteria for gas plants’ inclusion in EU green finance rulebook set out in official documents are less stringent than leaked proposals, sparking fierce criticism from environmental campaigners

The European Commission has confirmed it intends to press ahead with controversial plans to allow certain fossil gas investments to be labelled as 'green' under its new sustainable investment taxonomy, prompting outcry from climate experts who have warned the proposals are ripe for legal action. A legal text published yesterday (3 February) setting out how the EU proposes to classify fossil gas and nuclear activities in its new sustainable finance rulebook are broadly in line with a text leaked on New Year's Eve, which stated that investments in some fossil gas power plants with a constr...