In a fast-track procedure, the European Parliament and Council adopted new rules for gas storage on Monday, 27 June, only two months after the Commission’s initial proposal. The rules will foster energy security in light of the Russian war in Ukraine that is affecting the EU’s energy market.
In a committee vote on Tuesday, 14 June, Members of the European Parliament objected to the Commission’s proposed classification of some nuclear and gas energy activities as sustainable economic activities in the EU Taxonomy.
The ongoing conflict in Ukraine and Russian aggression have brought into question the EU’s energy security. This has led to thoughts over what measures might need to be taken to ensure the EU’s gas supply in the coming years, given the energy dependency on Russia.
The European Commission is planning to adopt the controversial ‘taxonomy’ proposal on Wednesday. It is a step towards classifying which energy sources can be labeled green for investment in the energy sector. The Commission is planning to classify nuclear and gas as green and environmentally sustainable, which has sparked a heated debate amongst the climate campaigners, scientists, German and Austrian greens, and some investors. The taxonomy draft was presented on 31 December 2021.