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European Parliament votes to exclude nuclear power from receiving a green stamp of approval on financial markets.

Euractiv 29th March 2019 The European Parliament voted on a proposed classification for sustainable
assets on Thursday (28 March), voting to exclude nuclear power from
receiving a green stamp of approval on financial markets.

The text voted in Parliament also excludes fossil fuels and gas infrastructure from the
EU’s proposed green finance taxonomy, which aims to divert investments
away from polluting industries into clean technologies. In a bid to prevent
“green-washing”, the Parliament text also requires investors to
disclose whether their financial products have sustainability objectives,
and if they do, whether the product is consistent with the EU’s green
assets classification, or taxonomy.

While activists applauded the move, they said the classification voted by the European Parliament was too
narrow and applies only to a limited set of recognisable green assets, such
as wind and solar power companies.

https://www.euractiv.com/section/energy-environment/news/nuclear-power-excluded-from-eus-green-investment-label/

April 4, 2019 - Posted by | climate change, EUROPE

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