The European Commission plans to launch its first green bond from October to finance the 750 billion euros post-Covid recovery plan.
The regulatory framework was validated on Tuesday.
"The EU's plan to issue up to € 250 billion in green bonds by 2026 will make us the largest green bond issuer in the world,"
said Johannes Hahn,
EU
Commissioner. Budget.
While the debates on European taxonomy, aimed at defining investments favorable to the energy transition, are not definitively settled, which they divide in particular on the sensitive subject of the atom, Brussels excludes using green bonds for nuclear power plant projects.
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The money raised on the markets by this mechanism
"will in no way be able to finance investments in nuclear
energy
",
clarified the commissioner, because this sector is not recognized as contributing to the green transition within the framework of the recovery plan. European. On the other hand, he added, it will be able to finance gas power stations
"under certain conditions to provide a transition solution in energy production"
. What irritates the supporters of nuclear power, who highlight its climatic advantages because it emits very little CO2.
The European framework adopted on Tuesday is aligned with the principles defined by the International Association of Capital Markets (Icma) for green bonds, a recognized standard, the Commission stressed. The European recovery plan stipulates that each Member State must use 37% of the funds to fight against climate change. Nine categories of investments are planned, including clean energy, energy efficiency (including building insulation) and sustainable transport.
