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Net-Zero Alliance Plans to Reject Gas, Nuclear as Green Assets

Nov. 8, 2021, 1:36 PM

The European Union will likely face investor backlash if it includes natural gas and nuclear energy in its green rulebook, known as the EU taxonomy.

The United Nations-convened Net-Zero Asset Owner Alliance, which is part of the widerfinance industry’s $130 trillion climate agreement announced last week, wrote in a document that hasn’t been finalized that it would oppose such a decision. Instead, fossil fuels should go into an extension or separate piece of legislation for transition technologies, the group said.

“The Alliance supports a taxonomy that is credible, usable, as well as science- and evidence-based,” according to the ...