Net-Zero Alliance Plans to Reject Gas, Nuclear as Green Assets
- UN-convened asset owners weigh in on taxonomy debate
- The group favors separate legislation for energy transition
Cooling towers at a nuclear power station in Huy, Belgium.
Photographer: Thierry Monasse/BloombergThis article is for subscribers only.
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 wider finance 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.