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EU Parliament approves ‘green’ label for nuclear power, natural gas (NYSEARCA:UNG)

by Trading How
July 7, 2022
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The European Parliament voted Wednesday to include nuclear power and natural gas within the bloc’s record of investments deemed sustainable, a transfer that would set off extra funding of these sectors however that critics stated would gradual Europe’s shift to greener vitality sources, The Wall Avenue Journal stories.

The vote paves the way in which for the proposal to develop into regulation, and would add nuclear vegetation and pure fuel to the European Union’s “inexperienced taxonomy” rulebook beginning in 2023 in the event that they meet numerous circumstances comparable to limits on greenhouse fuel emissions.

ETFs: (NYSEARCA:UNG), (BOIL), (KOLD), (UNL), (UGAZF), (DGAZ), (FCG), (NYSEARCA:NLR), (NYSEARCA:URA)

The motion comes as Europe tries to chop its dependence on Russian fossil fuels and lean on nuclear and pure fuel to assist bridge a transition to renewable vitality, however environmentalists and a few lawmakers and buyers say the plan dangers diluting investments in different initiatives comparable to renewable vitality.

The European Union stated the vote was “recognition of our pragmatic and lifelike method in serving to many member states on their transition path in the direction of local weather neutrality,” because the continent faces a potentially dire gas shortage next winter.



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