Austria stated on Monday (10 October) that it’s in search of assist from EU allies in its authorized battle towards the European Fee for labelling nuclear and gasoline as ‘inexperienced’ within the EU sustainable funding guidelines, the so-called EU taxonomy.
It follows its formal authorized problem introduced on Friday.
“We’re in talks with different EU governments who may be a part of us as supporting events within the proceedings,” Austrian atmosphere minister Leonore Gewessler instructed a press convention on Monday.
Vienna is in search of help from different member states past Luxembourg, which has already voiced its help for a lawsuit.
Throughout final 12 months’s COP26, Austria and Luxembourg shaped an alliance with Germany, Portugal and Denmark to maintain nuclear power out of the taxonomy — however Spain has additionally been some of the vocal opponents, contemplating neither nuclear nor gasoline as a sustainable funding.
The taxonomy, controversially introduced throughout New 12 months’s Eve and adopted earlier than the summer season, permits sure investments in gasoline and nuclear underneath the class of “transitional financial actions”.
Whereas designed as a science-based funding device to steer funding away from corporations which falsely declare to be environmentally-sustainable, critics argue the inexperienced label for nuclear and gasoline provides credence to claims of greenwashing, creates confusion in monetary markets, and can trigger main delays within the transition from fossil fuels.
“There have to be no greenwashing programme for investments in nuclear energy and fossil gasoline. It’s neither credible, bold nor knowledge-based, endangers our future and is extra irresponsible,” stated Gewessler.
The anti-nuclear motion in Austria goes again to the Nineteen Seventies when a vote in a referendum ultimately noticed a slim majority rejecting nuclear energy within the nation.
However Gewessler additionally stated that labelling gasoline as inexperienced was undermining the EU’s complete inexperienced finance package deal. “Calling climate-damaging pure gasoline inexperienced is deceptive”.
Authorized loophole?
Austria argued that the inclusion of gasoline and nuclear clashes with the taxonomy regulation itself and the underlying environmental ‘do no hurt’ precept — however Vienna has additionally recognized procedural issues associated to the best way the fee adopted this delegated act.
Delegated acts are adopted by the fee to amend or complement EU legislation, after consulting consultants from member states.
Nonetheless, in keeping with an EU official, the fee has ignored member states’ issues relating to the taxonomy.
Authorized motion from Vienna follows a lawsuit from a gaggle of civil society organisations, together with Greenpeace and ClientEarth, over the classification of gasoline and nuclear as inexperienced investments.
The fee stated it has taken word of the authorized motion however wouldn’t touch upon the substance of the case.
“The EU’s taxonomy is to a really giant extent centered on renewable energies. Renewables will proceed to be the main focus for inexperienced traders and the creation of inexperienced monetary merchandise,” a fee spokesperson stated.
“We included gasoline and nuclear … in a restricted variety of circumstances and underneath strict circumstances … [because] gasoline and nuclear are recognised as essential components of the transition in a number of member states”.