The EU taxonomy was originally intended as a guide for private investors: Which investments are compatible with the EU’s climate and nature conservation goals? It was not intended that natural gas should be classified as a sustainable energy source. Things turned out differently, and the new taxonomy has become one of the major political issues at present. In his analysis, Timo Landenberger looks back at the genesis of the regulations, sheds light on where the limit values come from, and captures voices from politics and business.