This may include adverts from us and 3rd parties based on our understanding. The bloc is working on a system of supporting sustainable sectors by creating distinctions between those that are and are not considered to cause significant harm to environmental objectives. It hopes that its taxonomy list will encourage the incorporation of sustainability concerns by corporations and investors into their strategy. A debate has been sparked by the EU Commission's plans to include nuclear energy and natural gas in its list. The proposal waters down the good label for sustainability and we do not see an approval of the proposals, according to the German Economy and Climate Protection Minister Robert Habeck. The decision not to include the defence and security industry on the list was more controversial.
The German newspaper Bild dubbed this a fatal blow to the EU's arms industry and the bloc's dream of its own army. Hans Christoph Atzpodien, General Manager of the German arms industry association, told the paper that there is no dispute over the importance of security, despite the fact that the costs and benefits of nuclear energy are hotly contested. In light of this, he questioned why the EU had not included the sector in its sustainability list. He said that in Europe, security is the basis of sustainability, as opposed to nuclear energy. READ MORE: Boris on the brink as voters turn to Tories.
It is important that everything that enables our armed forces and security organs to carry out their tasks in the EU is anchored as a contribution to sustainability. Private banks have a clear orientation, and this is the only way to do so. Martin Kroell of the company Autoflug said that the EU's decision equated to a real threat not only to the arms industry but to the EU itself. Gibraltar fury erupts as US submarine tells to leave Rock REVEALBrexit and Leave domain names taken offline by EU rules REPORT Brexit LIVE: Money flooding into UK as City doing'very well' LIVE He said: This is a real threat to an entire industry and also to the security and freedom of Europe. Anyone who wants a sovereign Europe must also support the domestic industry, which is necessary for this. In Italy, industry leaders have spoken out against the omission. Aerospace and defence group Leonardo said that the EU must not put the defence sector on the green naughty list and added that the industry should be added to the sustainable list.