Home Business News The EU determines what generates 'green' investment in transport, industry, and buildings:...

The EU determines what generates ‘green’ investment in transport, industry, and buildings: a Reuters draft

© Reuters. FILE PHOTO: The European Union flag is fluttering outside the headquarters of the European Commission in Brussels

By Kate Abnett

BRUSSELS (Reuters) – The European Union next week will set the conditions that transport, industry and buildings must meet to be classified as a sustainable investment in Europe, but delay decision on whether there is a green gas and nuclear power label, according to a draft document viewed by Reuters.

The EU’s “Sustainable Financial Classification” is a long list of economic activities and rules they must meet in order to be labeled as a sustainable investment in the EU from next year.

This landmark regulation aims to make green operations more conspicuous and attractive to investors, while ensuring that a sustainable investment label is only granted to economic activities. Compliance with EU targets for rapid reductions in greenhouse gas emissions.

The draft of the rules, viewed by Reuters and to be announced on April 21, was ignored. The EU countries are divided over whether gas-fired power plants should be considered green or not and the Commission plans to address the fuel issue, along with nuclear power, in a separate proposal. later this year.

The draft code includes detailed definitions of what will be considered sustainable investment in other sectors, including transportation, energy generation from sources including wind and hydro, and rehabilitation. house and manufacture of cement, steel and batteries.

Cement factories, for example, must have less than 0.72 tons of CO2 equivalent emissions per ton of gray clinker produced.

Meanwhile, car production can be seen as a sustainable investment until the end of 2025 if these vehicles emit less than 50g of CO2 per km. After that date, only the production of zero emissions cars is considered green.

By cutting off gas and nuclear, the Commission aims to win EU countries’ approval of the rules. But the forestry and bioenergy sectors have also proved controversial, with the Commission’s nine advisers threatening to resign because of its proposals to those sectors and gas, which they say. will discredit Europe’s climate policies.

In order to have a sustainability label, one activity must contribute significantly to one of the six environmental goals and not interfere with the other five. The draft rules cover two of those six goals – combating climate change and adapting to its impacts.

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