Lawmaker Group Asks EU to Withdraw Green Investment Label for Gas

Lawmaker Group Asks EU to Withdraw Green Investment Label for Gas
European Union flags fly outside the European Commission headquarters in Brussels, on March 6, 2019. Yves Herman/Reuters
Reuters
Updated:

BRUSSELS—Around 100 European Union lawmakers asked Brussels on Wednesday to withdraw plans to label energy investments in gas as green, saying this undermined Europe’s push to reduce reliance on Russian fossil fuels.

Even before Russia invaded Ukraine, EU countries and lawmakers were divided over the European Commission’s plan to label gas and nuclear investments as “green” in the bloc’s sustainable finance taxonomy, a rulebook for the classification of investments designed to help the EU meet its climate change goals.