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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