Reuters reported on Monday that the Polish company PGE put pressure on the EU over the question of including or not natural gas in the green financing taxonomy.
European Union wants to use the sustainable finance initiative as one of the main tools to channel investments towards green activities. The taxonomy will define which economic activities can be labelled environmentally sustainable.
Current draft labels power plants as sustainable if they meet an emissions limit of 100g of CO2 equivalent per kilowatt hour – ruling out gas plants unless they used carbon capture technology or switched to low-carbon fuels.
According to reports PGE on Monday this week urged Brussels to rethink the rules.
At the same time green organizations claim the current rules are based on scientific evidence and should be kept.
PGE’s production is mostly based on coal. The company has the ambition to be climate neutral by 2050 and plans significant investments in renewables, but wants to use natural gas as a transition in the meantime.
Source and more information: reuters.com
Cover picture: depositphotos.com
