Member states back green taxonomy deal

Member state representatives endorsed on Wednesday plans to introduce a system for classifying environmentally sustainable economic activities, after reaching an agreement with MEPs earlier this week.

Under the new taxonomy, activities can only be labelled as ‘green’ if they “substantially contribute” to mitigating or adapting to climate change, protecting water resources, transitioning to a circular economy, preventing pollution, or restoring or protecting habitats and biodiversity. 

Nuclear energy, which was a major point of contention during the negotiations, may be regarded as a ‘transitional activity’ within the taxonomy subject to assessment of the environmental impact of its waste, while no investment in coal will be considered sustainable. 

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