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ARTICLE · 18 JULY 2022

ESG Update: Complementary Climate Delegated Act Published In Official Journal

Arthur Cox
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The European Commission's proposal to allow certain nuclear and fossil gas activities to be classified as 'transitional' activities for the purposes of the EU Taxonomy, ...

European UnionCorporate/Commercial Law
Arthur Cox
Arthur Cox
Suzanne Kearney
Suzanne Kearney
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The European Commission's proposal to allow certain nuclear and fossil gas activities to be classified as 'transitional' activities for the purposes of the EU Taxonomy, and to include them in the EU Taxonomy Delegated Act on Climate Change Mitigation and Climate Change Adaptation, has been finalised and published in the Official Journal.

The Commission's proposal had triggered intense debate, but the European Parliament confirmed on 6 July 2022 that the absolute majority threshold (353 MEPs) required to reject the proposal had not been reached in the plenary session vote (278 MEPs voted to reject) and the EU Council did not veto the proposal by the deadline of 11 July 2022. This means that the Delegated Act will apply from 1 January 2023.

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This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.

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