The dispute revolves around the EU’s so-called classification, which is a set of rules that defines which investments qualify as climate-friendly and is meant to guide investors toward green projects that contribute to the bloc’s emissions-reducing goals.
The European Parliament approved the European Commission’s proposal in July, paving the way for it to become law and prompting Austria to confirm it, as it has warned for months, Challenge it in European courts. Luxembourg said it would support Austria’s move.
Nuclear energy and gas are neither environmentally friendly nor sustainable. So we filed a legal complaint against the taxonomic regulations of the European Commission, as promised
– Leonor Gosler, Austrian Environment Minister, representing the Green Party, said in her statement.
On Monday, Gosler is scheduled to hold a press conference, detailing the legal objection to the European Union’s Court of Justice.
The EU classification aims to clarify the murky world of sustainable investing by ensuring that financial products that make environmentally friendly claims meet certain criteria. Gas-fired power plants, for example, must convert to low-carbon gases by 2035 and adhere to an emission limit.
Greenpeace and other environmental groups have already submitted their legal challenges to the inclusion of nuclear power and natural gas.
Cover Photo: Getty Images
