European Union (EU) is planning to label investments like gas as climate-friendly under its “taxonomy” system that will determine which investments are environmentally sustainable or not. This new proposal has marked a new war of words within the European bloc.
What is the Taxonomy system?
Tensions escalated within the European clique after the EU moved ahead to include nuclear energy and gas in taxonomy – which would incentivise private investment. Intense talks are doing rounds within the EU as many suggest this move will invariably be an act of blessing for Russia and Vladimir Putin. Ukraine has demanded EU that natural gas and fossil fuel, be kept out of the taxonomy as this would be a “very clear gift to Putin to feed his war machine against Ukrainians”. Many MEPs of the EU have endorsed Ukraine’s view of labelling gas-fired power plants as a green “transition” fuel as it will boost gas purchases from Russia.
Since the onset of the Ukraine war, EU has portrayed itself as a ‘tough guy’ who can punish Russia for all of its shenanigans in Ukraine. EU essayed its role of a nemesis to Russia in full spirit until it came to the month of May when initial signs gave cue about the war slipping out of Ukraine’s hands.
Giving no time for thought, Russia started its retribution on a grandiose scale by reducing a significant portion of gas from the Nord Stream 1 pipeline to Germany. The food blockade further pronged the European senses out. Europe already has a huge number of issues to solve; Inflation is on its journey to the zenith, winters may knock on the European doors in the coming season, and with no gas for heating and other domestic needs, the bloc will simply suffer tremendously to ease past such inclement weather.
With Russia doubling down in its strategy on Ukraine, the final signal has been passed to Europe to distance itself from the high masculine jargon of sanctions and adopt a softer approach to Russia. Even Germany which is highly dependent on Russian gas has given assent to the view of EU that natural gas be included in the taxonomy.
Following suit, Poland and Bulgaria which were earlier attuned to EU side of politics have realised that it will be better to appease Russia, rather than reprising their earlier role of being a nemesis to Moscow. Poland has its reasons since Warsaw relies on Norway for gas but Norway is currently in a gordian knot with burgeoning inflation and protests among workers in gas factories. So, it will be wise enough for Warsaw to build some camaraderie with their old pal in Moscow.
Sparking a new outrage
But Svitlana Romanko, an environmental lawyer and campaign leader at Stand With Ukraine, said: “MEPs have to veto the EU taxonomy delegated act because it violates the human rights of Ukrainians, which are still under huge abuse with the Russian war against Ukraine.”
Meanwhile, Russia is glowing with fine joy after EU put forward this plan, it was evident from the response of Russian Energy Minister Nikolai Shulginov. “For Russia’s gas industry, the taxonomy would open up a ‘multitude of opportunities.’
Read more: EU’s newfound plan to stop Russia is a parody in itself
Interestingly enough, France, which gets 70 percent of its electricity from nuclear, has been the leading voice pushing for this energy source to be added to the list. A welter of opinions has passed through the EU chamber and it requires at least 20 countries representing 65 per cent of the EU population to object to the label to defeat it.
The quintessential troublemaker in Germany, the Green party, has yet again portrayed the role of an anti-hero when it comes to supporting the EU. The Greens held a press conference in Strasbourg and called EU’s new move “Not my Taxonomy”.
It is interesting to note how during the course of the war EU changed the bitterness it displayed towards Russia to an alluring one. It simply gives away the fact that the world knows only one language, the language of power.
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