European Union parliament votes to back green labeling rules for gas and nuclear energy investments, labeling them as climate-friendly

On Wednesday, July 6, the European Union parliament voted to adopt green energy labeling proposed rules which would label certain energy projects as climate-friendly investments.

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The EU parliament threw out an attempt to block the proposal that would label gas and nuclear energy projects as climate-friendly, paving the way for the EU proposal to pass into law. 

The green labeling rules for gas and nuclear are set to take effect in 2023 unless 20 of the European Union’s 27 member states reject them.

The proposal seeks to include gas and nuclear energy projects in the European Uniontaxomony rulebook which would allow investors to label and market investments in these energy projects as “green”.

639 lawmakers of the total 705 lawmakers in the EU parliament voted on the motion. 

278 of the 639 lawmakers voted to support a motion that would have blocked labeling gas and nuclear as a green, climate-friendly investment. A majority of 353 lawmakers was needed in order to block the labeling of gas and nuclear as a ‘green’ investment.

While 328 voted to oppose the motion that would have blocked the labeling of gas and nuclear as green, climate-friendly investments, and 33 abstained from the vote.

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