The European Union should add an 'amber' category to its green investment rulebook to flag investments that are not fully environmentally friendly but play a role in the transition, EU advisers will propose, the chief adviser said on Tuesday.
An aerial picture shows the four natural-gas power plants "Gersteinwerk" of Germany's RWE Power, one of Europe's biggest electricity and gas companies near the North Rhine-Westphalian town of Hamm, Germany May 6, 2015. REUTERS/Wolfgang Rattay/EU classing of gas, nuclear as 'green' drew criticismLabelling part of bid to help bloc meet climate goals
The move follows criticism of a proposal by the EU executive to include gas and nuclear energy as 'green' investments in its sustainable finance taxonomy, which will list activities that will help meet Europe's climate goals. Fabian said it would be a "better option to describe the multiple transitions on multiple environmental objectives for multiple economic sectors, which we must now embrace".
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