NewsLocalTerra Cypriot says serious environmental mistake by the European Commission

Terra Cypriot says serious environmental mistake by the European Commission

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.”

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