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Europe set to delay verdict on green label for gas projects

The EU is set to determine criteria for sustainable investments, but the process may be delayed. Its taxonomy is crucial, and lowering the union's standards could impact development of global criteria for green energy ventures, says analyst.

Photo: Jens Bttner/AP/Ritzau Scanpix

The European Union is poised to delay a decision on what it means to be “green” in certain sectors in an effort to defuse tensions over the roles of natural gas and nuclear in the clean energy transition.

Next week, the bloc will set out draft plans to highlight criteria for the first set of sustainable investments, potentially unlocking billions of euros for green projects. Almost every part of the EU’s economy will be assigned rules to qualify as environmentally sound; from iron and steel production to energy infrastructure. However, investors won’t have a clear view on how to treat gas and nuclear until the end of this year.

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