Spain and Denmark reiterated Monday their opposition to plans by the European Union to label gas and nuclear energy projects as green investments, an issue that has divided the bloc.

The two nations believe such a move would send "the wrong message to investors and society as a whole", Spanish Prime Minister Pedro Sanchez told a joint news conference in Madrid with his Danish counterpart Mette Frederiksen.

The European Commission drafted plans late last year to label gas and nuclear energy as green investments, a move it hopes will steer huge sums of private capital into activities that support EU climate goals.

But Austria and Luxembourg have along with Spain and Denmark opposed the EU's draft plans for a so-called "sustainable finance taxonomy".

Heavyweight Germany opposes labelling nuclear power as sustainable, but not gas.

Sanchez and Frederiksen believe decisions about the new rulebook should have a "strictly scientific basis", a "position shared by Austria and Luxembourg". the Spanish government said in a statement after the two leaders met.

EU member states are awaiting the commission's final proposal, which it has said it will publish soon, without giving a date.

Once published, a majority of the European Parliament or a super-majority of EU member states -- 20 of the 27 countries -- could block the rules.

It is unlikely that such a majority will be reached since a dozen nations including nuclear-reliant France back the new rulebook.

Related Links
All About Oil and Gas News at OilGasDaily.com

Tweet

Thanks for being here; We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain. With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords. Our news coverage takes time and effort to publish 365 days a year. If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor $5 Billed Once credit card or paypal		SpaceDaily Monthly Supporter $5 Billed Monthly paypal only

Making Hydrogen fuel anywhere: ONR tests prototype to power Marines in expeditionary environments
Arlington VA (SPX) Feb 17, 2022
U.S. Marines often operate in extremely harsh environments - including remote islands, hot deserts, rugged mountains and frozen, barren landscapes. While these warfighters employ sophisticated, technologically superior equipment and weaponry in the field, such tools need large amounts of fuel and energy to perform - a tough demand in austere operating environments. To address this, the Office of Naval Research (ONR) Global TechSolutions program is sponsoring efforts by the Massachusetts Inst ... read more