LOL: EU Parliament Declares Investments in Nuclear and Natural Gas Energy To Be "Green"

Thus always communism. Put society into chaos and misery with your ludicrous Five Year Plans, then begin redefining words to claim it's all succeeded as planned.

BRUSSELS, July 6 (Reuters) - The European Parliament on Wednesday backed EU rules labelling investments in gas and nuclear power plants as climate-friendly, throwing out an attempt to block the law that has exposed deep rifts between countries over how to fight climate change.

The vote paves the way for the European Union proposal to pass into law, unless 20 of the bloc's 27 member states decide to oppose the move, which is seen as very unlikely.

The new rules will add gas and nuclear power plants to the EU "taxonomy" rulebook from 2023, enabling investors to label and market investments in them as green.

...

Lawmakers also disagree on how the law will impact financial markets, with some warning that gas and nuclear projects could face higher capital costs if they are denied "green" status.

Others suggest the taxonomy's political symbolism far outweighs the impact it will have on investors, since the law does not prohibit investments in activities without the green label.

Thanks to Comrade Flounder.

posted by Ace at 05:15 PM

| Access Comments