EU’s taxonomy does not yet fully resolve what a sustainable investment is

Nuclear power  station

France wants nuclear power to be part of the European Union taxonomy on sustainable investment, while Germany wants natural gas included. This has raised scepticism among some asset managers about the wisdom of the EU’s move, writes Jan Wagner…

Before Christmas, the EU took a big step in harmonising standards for sustainable investments. Under an agreement struck between the EU’s Parliament and Council, an investment is defined as sustainable if it meets environmental objectives. These objectives include climate change mitigation and adaptation, sustainable use of water, pollution prevention as well as biodiversity protection. 

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