A group of five EU member states led by Germany have sent a letter to the European Commission asking for nuclear energy to be kept out of the EU’s green finance taxonomy. The letter – signed by the environment or energy ministers of Austria, Denmark, Germany, Luxembourg, and Spain – points to “shortcomings” in a report by the European Commission’s Joint Research Centre published on 2 April, which concluded that nuclear energy is safe. “Nuclear power is incompatible with the Taxonomy Regulation’s ‘do no significant harm’ principle,” the ministers wrote, urging the Commission to keep nuclear out of the EU’s green finance rules. “We are concerned that including nuclear power in the Taxonomy would permanently damage its integrity, credibility and therefore its usefulness,” they warned.
Euractiv 2nd July 2021 read more »
Germany has gathered support from four European Union countries around its opposition to classifying nuclear energy as “green” and sustainable for investment purposes, a letter to the Commission seen by Reuters on Friday showed. By making green investments more visible to investors in its new rule book, or taxonomy, Brussels hopes, from next year, to help steer huge sums of private capital into activities that support EU climate goals. Spain, Austria, Denmark and Luxembourg joined Germany in saying investors concerned about nuclear waste storage could lose confidence in financial products labelled green if they included nuclear energy without their knowledge.
Yahoo 2nd July 2021 read more »
The European Union should do more research on the potential harm caused by nuclear power before deciding whether to label it as a sustainable investment, one of the two expert committees tasked with assessing the fuel’s green credentials said on Friday.Brussels is mulling a decision on whether to include nuclear energy in its sustainable finance taxonomy, a list of economic activities that will from next year define which can be labelled as green investments. The EU’s science arm said in March that nuclear power should get a green label. However, given disagreement among other experts over whether its low CO2 emissions make up for a lack of analysis on the environmental impact of radioactive waste disposal, two expert committees were later tasked with scrutinising its findings. On Friday, environment experts on the Scientific Committee on Health, Environmental and Emerging Risks (SCHEER) said they backed many of the initial report’s findings, but were concerned about others. To be considered green, activities must “do no significant harm” to specific environmental aims, yet SCHEER said the original report had instead considered whether nuclear would “do less harm” than other energy technologies.
Reuters 2nd July 2021 read more »