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The European Union voted on Wednesday to keep some specific uses of natural gas and nuclear energy in its taxonomy of sustainable sources of energy.
Europe’s taxonomy is its classification system for defining “environmentally sustainable economic activities” for investors, policymakers and companies. This official opinion of the EU matters because it affects funding for projects as the region charts its path to address climate change. In theory, the taxonomy “aims to boost green investments and prevent ‘greenwashing,’” according to the EU’s parliament.
The vote on natural gas and nuclear energy follows one that was passed in February, which amounted to a referendum on what had been a particularly controversial piece of the ruling. Natural gas emits 58.5% as much carbon dioxide as coal, according to the U.S. Energy Information Association. Nuclear power does not generate any emissions, though it draws criticism surrounding the problem of storing radioactive waste. //
The U.K., Poland, the Czech Republic and the Netherlands have all announced plans to build new reactors, adding to Europe’s decades-old reactor fleet. France, which already generates 70% of its electricity from nuclear power plants, is beginning to train thousands of workers in the rigorous requirements of nuclear engineering and construction as part of a plan to build up to 14 new full-size reactors and other smaller ones. //
The International Energy Agency says it expects global nuclear power capacity will have to double by 2050 for the world to reach so-called net zero, in which greenhouse gas emissions are so low that they can be completely offset by forests and other natural means of absorbing carbon dioxide from the atmosphere.