EU Nears Pivotal Nuclear Decision Ahead of Christmas

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The European Commission looks set to leave one of its most crucial decisions until right before the Christmas break — whether to carve out a space for gas and nuclear energy in its green rulebook. It’s likely to make a decision on Dec. 22 on the so-called “taxonomy” — a list of economic activities that can be considered environmentally-friendly. It will be a tricky balancing act, with inclusion of those energy sources threatening to undermine a pledge to set the “gold standard” for climate-conscious investors. It also puts at risk the EU’s goal of climate-neutrality by the middle of the century. But with energy prices setting new records amid colder weather, and no sign that Russia will quickly refill depleted gas inventories, a compromise that allows for a time-limited inclusion may be seen as the only palatable possibility.