European MEPs from the far right, and the majority of the EPP today voted in favor of the EU Commission’s to inexplicably label gas green
greenwashing
in history; enacted by the same people that are supposed to protect us from the climate crisis. The sun won’t set in the east just because a bunch of complicit politicians say so in a law. Nor will gas ever be clean and renewable. The laws of nature don’t lie, but the taxonomy does. This bill will not stand up to the many legal challenges being announced, and it will be shunned by investors.”
The provisions allow all new gas plants to be labelled green under the condition that they will be used “sparingly.” This undermines the credibility of sustainable investing, says T&E, since no green fund or green bond includes gas today. At best, the EU’s rules will be ignored; at worst, it will fuel a whole industry of fake green investments.“On top of being environmentally disastrous the bill is also unfair, with almost 75% of the estimated green funds going to France and Germany.
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