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BREAKING
Al Mayadeen's correspondent: The Lebanese Army is continuing its investigations and will later announce any information that does not affect the confidentiality of the investigation
Al Mayadeen's correspondent: It has not yet been determined whether the detainees belong to ISIS or another organization
Al Mayadeen's correspondent: Around 10 people of different nationalities, including Lebanese nationals, were detained
Al Mayadeen's correspondent: The Lebanese army arrested a number of people in the Matn area of Mount Lebanon with possession it has not disclosed
Gaza Civil Defense spokesman: We have strong indications that there are martyrs, injuries, and trapped people in the Salah al-Din area
Gaza Civil Defense spokesman: Citizens should avoid Salah al-Din Street because anyone who approaches it is at risk of being directly targeted
Gaza Civil Defense spokesman: Reality is that there is a very limited retreat of the vehicles, with the occupation forces providing cover undeer fire up to Salah al-Din Street
Gaza Civil Defense spokesman: Claims that the Israeli occupation has withdrawn from areas in the neighborhoods of al-Zaytoun, al-Tuffah, and al-Shujaiya are false
Hamas: The two delegations stressed that any negotiations must lead to the achievement of our people's goals and aspirations, foremost among which is ending the war and the complete withdrawal of enemy forces
Hamas: A delegation from the Hamas leadership, led by the head of the leadership council, Mohammad Darwish, met with an Islamic Jihad delegation, headed by its Secretary-General, Ziyad al-Nakhalah

EU credibility crippled by adopting gas, nuclear power as 'green'

  • Source: Agencies
  • 7 Jul 2022 15:54
3 Min Read

Opponents of this taxonomy call it "greenwashing".

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  • EU climate credibility crippled by greenwashing lobby
    EU climate credibility crippled by the greenwashing lobby

The EU Parliament passed a bill Wednesday that made it possible to label fossil gas and nuclear power as "green" in the Commission's taxonomy, provoking an outcry from all European political groups. The Parliament adopted the European Commission's proposal first published on the 2022 New Year's Eve. The Greens opposed it, but also the Social Democrats (S&D), the radical left (GUE), some liberals (RE), and Christian Democrats (PPE). Going against the positions expressed by scientists, the majority of MEPs approved the greenwashing operation proposed by the European Commission in a 328-278 vote, with 33 lawmakers abstaining.

Opponents of this taxonomy call it "greenwashing". The gas, when burning, emits significant amounts of CO2. As for nuclear power, it is free of CO2 but generates waste for which no lasting solution exists.

Two parliamentary committees rejected this taxonomy. However, there was a majority in the plenary to approve it. This is explained by the fact that France and Germany, the two largest suppliers of deputies, are authoring this bill, the objective of which is to protect their national industries.

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This classification seems surreal, but its scope must be put into perspective. The taxonomy comes with conditions that do not make it an eternal law. It is only valid for a transitional period ending in 2045. Gas and nuclear will only then be sustainable if new technologies are introduced. As for gas, it will have to be substituted for coal. 

Moreover, the taxonomy is not a mandatory rule. Economic actors have the right to choose the energies in which they will invest with regard to the climate issue. Investors have their own rules for assessing risk and what is, or is not, sustainable. And this is the limit of the intrusion of politics into the functioning of the market.

According to Kevin Book, managing director of ClearView Energy Partners, European natural gas prices have skyrocketed by about 700% since the first of the year. To bring prices back to "fair" levels, many European countries are seeking to establish long-term deals, including LNG shipments from the US, Qatar, and other nations. However, these contracts happen to contradict Europe's goals of curtailing global warming. This did not stop some governments that have espoused very green values from signing 20-year contracts for LNG.

In retrospect, this move could reflect the EU's aspirations to turn to alternatives to Russian gas following the implementation of EU and US sanctions on Russia. The EU is seeking to buy gas on a massive scale from countries other than Russia (including via Russian gas resellers) but the supply remains limited and the gas ships remain insufficient to transport productions to the EU when they are already mobilized on other contracts.

  • Greenwashing
  • European Union

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