Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By Rog Tallbloke
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

LEAK: EU considers expanding role of gas in green finance

% of readers think this story is Fact. Add your two cents.


Germany’s main gas supplier: Russia

Countries like Germany must know that once all their nuclear and coal plants have been closed (by order), their security of electricity supply would be heading towards zero without gas and imports. Saying it’s just a question of peak demand is nonsense, and they know that as well, but still pursue their delusional energy policies. What happens after 2050 when the gas is turned off is a mystery.
– – –
The European Commission is reconsidering the position of gas in its sustainable finance taxonomy by recognising the fossil fuel’s role in keeping the lights on during peak electricity demand, according to a leaked document seen by EURACTIV.

The EU executive is currently drafting a rulebook for sustainable finance, drawing up a complete set of criteria defining what can be considered as a “green” investment in the European Union.

The draft rules – or “delegated acts” in EU jargon – are an essential part of plans to bring private finance onboard with Europe’s transition to a zero carbon economy and prevent greenwashing from firms making false environmental claims.

However, environmental groups have voiced concern that a leaked proposal to expand the remit of fossil gas in the taxonomy could in itself amount to greenwashing.

“Stakeholder feedback has highlighted that gas-fired power generation plays an important role in guaranteeing the reliability of electricity supply by compensating for times of low generation by intermittent renewable energy generation (wind, solar) and contributing to grid stability,” the leaked proposal says.

To acknowledge this, the draft text puts forward two options:

— The first recognises a role for “gaseous and liquid fuels” in providing a backup role for electricity generation, provided that “the direct greenhouse gas emissions of the activity are lower than 244gCO2e/kWh” or lifecycle emissions are “lower than 820 kgCO2e per kW of net installed capacity.”

— The second is to create a new category recognising “the role of gas-fired electricity generation” in grid stability, provided that “the activity is associated with life-cycle greenhouse gas emissions that are lower than 820 kgCO2e per kW of net installed capacity per year.”
“A gas-fired power plant used specifically for maintaining the reliability of electricity supply by contributing to grid stability can be assumed to operate 2,000 hours per year or less,” says the draft text.

This would enable gas plants which operate for less than 2,000 hours a year to fit into a “transition” category in the sustainable finance taxonomy because they would “guarantee the reliability of electricity supply” until their operating hours eventually fall down to zero by 2050.

As a general rule, the European Commission never comments on leaked documents.

Continued here.



Source: https://tallbloke.wordpress.com/2021/03/12/leak-eu-considers-expanding-role-of-gas-in-green-finance/


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST


Order by Phone at 888-809-8385 or online at https://www.herbanomic.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse
Loading...

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.