More than a dozen non-governmental (NGO) and environmental organizations are challenging the European Union’s (EU) decision to label natural gas and nuclear as sustainable investments under a law adopted in July.

eu gas storage

The EU taxonomy under the Climate Delegated Act (CDA)  is a classification system established to clarify which investments are considered sustainable. The groups opposing it say the CDA goes against the EU’s targets under the Paris Agreement, and ignores an EU law which specifies the taxonomy should be based on “conclusive scientific evidence.”

Five NGO’s resigned from the European Commission’s (EC) Platform on Sustainable Finance this month when their recommendations on natural gas and nuclear had been ignored. The EC Platform is mandated to help develop...