(By Paul Virgo)
Italians concerned about the climate
crisis are joining many scientists and environmental
associations from across the continent in calling for the
European Commission's proposed sustainable finance 'taxonomy'
plan to be rejected, saying it would give the green light to
greenwashing.
The taxonomy is a system to classify which economic activities
can claim to be sustainable and is meant to set rules that stop
greenwashing - misleading people into thinking products or
services are climate-friendly.
But critics say it will actually encourage greenwashing as the
investments in gas and nuclear power will be classed as
sustainable for investment purposes.
Gas plants are OK as long as they replace facilities using coal
or oil and comply with certain limits on emissions.
This even though methane is an extremely powerful greenhouse gas
with a global warming potential 86 times that of carbon dioxide
over a 20-year period.
It has been given the all-clear as it has been classed as a
'transitional' bridge to lead towards a net-zero-emissions
future.
Nuclear energy's inclusion is controversial too.
Although nuclear power plants do not produce as much greenhouse
gas as fossil fuels, they are far from carbon neutral, given the
emissions generated by uranium extraction, transport and
processing products, among other things.
There is also the issue of handling the radioactive waste
produced by the plants and the risk of accidents.
"This is pure madness, we cannot accept this," Valerio
Mezzanotte of the Legambiente association told ANSA at a recent
#NotMyTaxonomy demonstration in Rome.
"It would stop the decarbonization process, stop our transition
to a new era of renewable energy.
"Including nuclear and gas in the new taxonomy would put them on
the same level as renewable energy. It would be completely
absurd.
"It would take us back 15 years in the process of renewing
society".
The #NotMyTaxonomy protests in Rome and Milan at the weekend
were supported by 26 Italian groups, including the Italian
sections of Fridays For Future, Parents for Future and
Extinction Rebellion, as part of a Europe-wide campaign.
Opponents of the taxonomy proposal are upping their efforts in
view of an upcoming vote on it in the European Parliament.
"These types of energy should be abandoned really, really soon,"
said Beatrice Costantino of the Ultima Generazione (Last
Generation) group that stages acts of civil disobedience to push
for climate action.
"We are demanding that Italy stop using fossil fuels, including
gas, now - immediately," she told ANSA.
When presenting the proposal, Financial Services Commissioner
Mairead McGuinness admitted that it "may be imperfect" but also
argued that "it moves us further towards our ultimate goal of
carbon neutrality".
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