Taxonomy on green investments

The Committee on Economic and Monetary Affairs (ECON) and the Committee on the Environment, Public Health and Food Safety (ENVI) decided by a large majority to start trilogue negotiations with the Council on the European Commission's proposal to establish an EU-wide taxonomy for environmentally sustainable investments.

The proposed regulation lays down criteria that must be met in order for an economic activity and investment in that activity to be considered green. The Member States agreed on a common negotiating position on 25 September 2019 and are now entering into negotiations with the European Parliament.

In particular, there are still differences between the Council and the European Parliament on the question of whether nuclear power is classified as sustainable in the taxonomy. The EP rejects this. The majority of the Council is in favour, but it is divided. While France, for example, is one of the proponents, Germany, in particular, has decidedly spoken out against it. Another point of contention is likely to be the date of application. In particular, the Council wants to ensure that the taxonomy does not apply until much later than originally proposed by the European Commission.