EU Commission Publishes Text Cementing Nuclear’s
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Posted On: 02/15/2022 4:58:54 PM
EU Commission Publishes Text Cementing Nuclear’s Role in Energy Transition
The final version of the EU Taxonomy Regulation’s Complementary Delegated Act was recently presented by the European Commission. The version contains certain nuclear and gas activities and includes a few minor adjustments from the draft, which was leaked last year.
The commission started consultations on a draft text of the Complementary Delegated Act with the Member States Expert Group on the Sustainable Finance Platform in December last year. It also gathered feedback from the European Parliament on the act.
The European Commission announced in the text that the commissioners had reached an agreement. The European Commissioner for Financial Services, Financial Stability and Capital Markets Union, Mairead McGuinness, stated that the European Union was focused on achieving climate neutrality while presenting the Complementary Delegated Act, noting that increasing private investment in the clean energy transition was important in helping reach the set climate goals.
McGuiness further explained that firm conditions to help mobilize funds to support the transition from harmful sources of energy such as coal were being established, while market transparency was also being improved so that investors would more easily be able to identify nuclear and gas activities in investment decisions.
The commission stated that there was a role for private investment in nuclear and gas activities in the energy transition, having taken into consideration current technological progress and scientific advice. The group then added that the nuclear and gas activities which had been selected were consistent with the European Union’s environmental and climate objectives and would help accelerate the shift away from polluting activities and toward a climate-neutral future that used renewable sources of energy by 2050.
The Complementary Delegated Act will be translated into every official language under the European Union after which it will be transmitted to co-legislators for further formal examination. The Council and the European Parliament will also have four months to closely examine other Delegated Acts included in the Taxonomy Regulation and object to it if they deem it necessary. The institutions will be allowed to request a couple more months if they need additional time to scrutinize the document.
Once this scrutiny is done and the co-legislators haven’t raised any objections concerning the document, the Complementary Delegated Act will come into effect and apply from Jan. 1, 2023.
McGuinness noted that the Taxonomy Regulation was a tool for the financial sector as it would help increase transparency in the financial markets, adding that member states were responsible for making decisions on their own energy policies.
The outlook for nuclear energy looks good given the favorable status it is being given by several national and regional bodies. This is a possible indicator that stocks of uranium extractors such as Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) could show a significant upward trend as nuclear energy establishes its place in the efforts to tame climate change.
NOTE TO INVESTORS: The latest news and updates relating to Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) are available in the company’s newsroom at http://ibn.fm/UUUU
Please see full terms of use and disclaimers on the MiningNewsWire website applicable to all content provided by MNW, wherever published or re-published: https://www.MiningNewsWire.com/Disclaimer
The final version of the EU Taxonomy Regulation’s Complementary Delegated Act was recently presented by the European Commission. The version contains certain nuclear and gas activities and includes a few minor adjustments from the draft, which was leaked last year.
The commission started consultations on a draft text of the Complementary Delegated Act with the Member States Expert Group on the Sustainable Finance Platform in December last year. It also gathered feedback from the European Parliament on the act.
The European Commission announced in the text that the commissioners had reached an agreement. The European Commissioner for Financial Services, Financial Stability and Capital Markets Union, Mairead McGuinness, stated that the European Union was focused on achieving climate neutrality while presenting the Complementary Delegated Act, noting that increasing private investment in the clean energy transition was important in helping reach the set climate goals.
McGuiness further explained that firm conditions to help mobilize funds to support the transition from harmful sources of energy such as coal were being established, while market transparency was also being improved so that investors would more easily be able to identify nuclear and gas activities in investment decisions.
The commission stated that there was a role for private investment in nuclear and gas activities in the energy transition, having taken into consideration current technological progress and scientific advice. The group then added that the nuclear and gas activities which had been selected were consistent with the European Union’s environmental and climate objectives and would help accelerate the shift away from polluting activities and toward a climate-neutral future that used renewable sources of energy by 2050.
The Complementary Delegated Act will be translated into every official language under the European Union after which it will be transmitted to co-legislators for further formal examination. The Council and the European Parliament will also have four months to closely examine other Delegated Acts included in the Taxonomy Regulation and object to it if they deem it necessary. The institutions will be allowed to request a couple more months if they need additional time to scrutinize the document.
Once this scrutiny is done and the co-legislators haven’t raised any objections concerning the document, the Complementary Delegated Act will come into effect and apply from Jan. 1, 2023.
McGuinness noted that the Taxonomy Regulation was a tool for the financial sector as it would help increase transparency in the financial markets, adding that member states were responsible for making decisions on their own energy policies.
The outlook for nuclear energy looks good given the favorable status it is being given by several national and regional bodies. This is a possible indicator that stocks of uranium extractors such as Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) could show a significant upward trend as nuclear energy establishes its place in the efforts to tame climate change.
NOTE TO INVESTORS: The latest news and updates relating to Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) are available in the company’s newsroom at http://ibn.fm/UUUU
Please see full terms of use and disclaimers on the MiningNewsWire website applicable to all content provided by MNW, wherever published or re-published: https://www.MiningNewsWire.com/Disclaimer
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