The Cyprus Conservation Foundation referred to a serious environmental mistake by the European Commission since overnight the European Commission has done a complete U-turn classifying fossil gas and nuclear as “green investments.”
The Cyprus Conservation Foundation claimed that the European Commission succumbed to the pressure by a group of member-states. In 2020, the European Union adopted Regulation (EU) 2020/852 on the establishment of a framework to facilitate sustainable investment. The proposed Taxonomy Regulation establishes an EU-wide classification system or ‘framework’ intended to provide businesses and investors with a common language to identify to what degree economic activities can be considered environmentally sustainable.
Unfortunately, with a Complementary Delegated Act, the European Commission classified certain gas and nuclear activities as “green investments.”
