Green Finance CEOs Warn UK on Labeling Natural Gas Sustainable

Some of the world’s largest climate finance groups are urging UK Prime Minister Boris Johnson’s government not to classify natural gas as a green investment.

The chief executives of the Institutional Investors Group on Climate Change, Principles for Responsible Investment and UK Sustainable Investment and Finance Association said the energy source would undermine the UK’s proposed rulebook for environmentally-friendly investments. The UK plans to allow some natural gas projects to be labeled as sustainable, Bloomberg reported last month.

“The fundamental objection to natural gas being included in the taxonomy is that it is not green,” said Stephanie Pfeifer, ...