There may be advertisements from us and 3rd parties based on our understanding. The EU taxonomy for sustainable activities is a system of classification that is used to determine which investments are environmentally sustainable. This system was created in the wake of the European Green Deal in July 2020 and was made to help prevent greenwashing among different investments. At the EU summit in Brussels last month, leaders prepared to include nuclear in this list, despite the fact that the decision on including nuclear to this list has been a controversial one, with significant blocs of European countries vehemently opposing the classification of nuclear as green. After joining the summit, European Commission President Ursula von der Leyen said: We need more renewables. They are cheaper, carbon-free and home-grown. We need a stable source, nuclear, and gas during the transition. This is why we will come forward with our taxonomy proposal. As part of the taxonomy, it means that many megaprojects that are part of nuclear investments will not have trouble getting support from banks.
Some countries have transitioned from coal to renewable energy because of natural gas, according to experts from the European Commission. A bloc of European countries, including Hungary, Slovakia, Slovenia and Czechia, signed a letter demanding nuclear energy be recognised as a sustainable source. It will be difficult for many countries to move away from fossil fuels without nuclear energy. According to a German think tank, DIW believes that moving away from nuclear energy will increase the use of coal in Europe. Many countries that support nuclear energy are relying on it in order to avoid falling into a state of energy dependency on Russia.
The Jacques Delors Energy Centre has published a report showing that the Russian state-owned company Gazprom is the only gas supplier in Europe with export capacity. The company does not transport gas to its maximum potential, which is why critics have accused it of deliberately raising gas prices in order to force Nord Stream 2 certification. In 2021, Europe's dependence on gas from Russia has gone from 30 to 41 percent. The authors of the study wrote: Behind Gazprom there is a Russian Federation with a clear agenda to weaken the EU and punish Ukraine. Inmates take swift revenge on tragic Arthur's 'evil stepmother INSIGHT Angela Rayner sets up new crack team REPORT Scotland POLL: Should UK hand Nicola Sturgeon and SNP 4.6 billion? POLL Russian gas could be the Achilles heel of the EU. The coalition agreement doesn't mention the disputed Nord Stream 2 pipeline, but it does talk about importing hydrogen from Russia. Experts fear that including nuclear energy and natural gas as green sources will make more countries dependent on Russia for their energy needs, which could leave them vulnerable to the Kremlin. Another think tank, BDI, has called for the creation of hydrogen-ready power industries, which would run on natural gas but have the potential to use nuclear energy one day.