Wednesday, May 18, 2022
HomeNewsOlaf Scholz allies in revolt against German leader and Brussels over new...

Olaf Scholz allies in revolt against German leader and Brussels over new hated tax laws

German Green Federal Environment Minister Lemke has announced a “clear no” to the plans from Brussels to classify nuclear power as sustainable and therefore worthy of funding. In a move that is already splitting the new government in Berlin, the Green politician said on ARD television that the federal government would finalise its statement in the next few days and transmit it to the EU Commission.

The negative stance therein is represented by the Ampel coalition “closed”.

It would then be up to the Commission to decide how to proceed, not only from Germany, despite the clear voices against nuclear power.

The federal government or the EU parliament alone would not have the power to completely reverse their decision.

The Brussels executive had sent a proposal for the so-called taxonomy regulation to the EU member states on New Year’s Eve.

Among other things, it wants to classify investments in new nuclear power plants as climate-friendly under certain circumstances.

The Commission said on Monday it has delayed to later this month the deadline for experts to give feedback on divisive plans to allow some natural gas and nuclear energy projects to be labelled as sustainable investments.

The Commission drafted a plan late last year to add some gas and nuclear investments to the European Union’s “taxonomy,” its rule book to define which investments can be labelled as climate-friendly in the EU.

Brussels said on Monday its expert advisers will have until January 21 to provide feedback on the draft proposal, rather than until January 12 as initially planned.

“The deadline has been postponed by a week and the reason is basically to give a bit more time to the platform to provide its views,” European Commission Chief Spokesperson Eric Mamer told a news briefing, referring to the “platform” of advisers from industry, NGOs and the finance sector.

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A super-majority of EU countries or the European Parliament could block it in the four months that follow.

If they do not, the rules would enter into force.

The long-awaited taxonomy is part of EU plans to mobilise massive low-carbon investments to meet its goal to have net-zero greenhouse gas emissions by 2050.

Using detailed criteria that each “green” investment must meet – such as emissions limits or energy efficiency – the taxonomy aims to make climate-friendly projects more visible and attractive to private capital, and stop organisations from overstating their environmental credentials.



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