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Renewables Still Prioritized in EU’s Green Plan, McGuinness Says

  • Gas, nuclear investments won’t crowd out cleaner technologies
  • EU still sets gold standard for climate finance, she says

The European Commission’s proposal to include gas and nuclear energy within its green rulebook won’t crowd out funding for renewable technologies, according to the bloc’s financial services chief Mairead McGuinness.

“I don’t predict the problem that you describe,” McGuinness said on Bloomberg Television, when asked if the so-called taxonomy would encourage investment in the two energy sources instead of renewables. “Everyone knows it is much better to invest in renewables when you can do that.”