European Parliament: Natural Gas Projects can be Considered Green for Investments

Power & Energy

The European Union lawmakers voted in favour of calling natural gas and the nuclear power as ‘green’ sources of energy, backing a new proposal from the European Commission, executive arm of the European Union, that has raised criticism from scientists and environmental advocates.

If the new rules are accepted by the member nations of the European Union, could unlock billions of dollars of state subsidies and private investment for natural gas and nuclear energy projects.

These new rules will go into effect in 2023, unless 20 of the 27 member nations of the European Union reject them, which is unlikely. Most member states of the European Union, including heavyweights such as France and Germany that are backed by at least one of the two energy sources.

The European Commission has argued that natural, a fossil fuel prepared from methane, has been a contributor to the climate crisis, and also plays an important role in transitioning to the renewable energy, impacting some lawmakers and environmental activists.

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Typically, natural gas emits less carbon dioxide than coal, but the critics argue that more focus should be placed on boosting the renewable energy, and those supporting new gas projects is only going to increase the life of the fossil fuel.

On the other hand, nuclear energy is green because it does not directly produce carbon dioxide emissions.


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