Climate Change: EU Encourages Investment in Green Transition Projects

Brussels – The European Commission on Wednesday unveiled a complementary guide listing projects for private investment in gas and nuclear to propel the green transition and help the bloc meet its climate and energy targets.

“The European Commission has today presented a Taxonomy Complementary Climate Delegated Act on climate change mitigation and adaptation covering certain gas and nuclear activities,” the Commission said in a statement.

The report noted that private investment is needed for the EU to become climate neutral by 2050, with the list serving as guideline to businesses for choosing sustainable energy projects and initiatives to invest in​​​.

“Taking account of scientific advice and current technological progress, the Commission considers that there is a role for private investment in gas and nuclear activities in the transition”, the statement read.

“The gas and nuclear activities selected are in line with the EU’s climate and environmental objectives and will allow us to accelerate the shift from more polluting activities, such as coal generation, towards a climate-neutral future, mostly based on renewable energy sources,” the statement added.

The document will be translated into all official EU languages, after which it will be sent to the co-legislators for their scrutiny, according to the Commission.