Lawmakers threaten to sue EU if it labels gas investments as 'green'

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Some members of the European Parliament intend to take legal action against the European Commission if its plan to label gas and nuclear energy investments as climate-friendly becomes law, according to a lead lawmaker on EU green finance rules.

The European Parliament will decide next week whether to accept or reject the Commission's proposal to classify gas and nuclear power plants as green in the EU's "taxonomy" - a list of investments that can be marketed as sustainable.

The motion up for vote in the parliament would reject the plan on the grounds that it fails to comply with an existing EU law, which says that to be labelled green, an investment must "substantially" contribute to one of six environmental goals, and not harm the others.To pass, the motion must win support from a majority of the assembly's 705 lawmakers.

Austria and Luxembourg, both opponents of nuclear energy, have also threatened to sue Brussels over the plan.

 

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