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Both UK and European Commission want nuclear energy excluded from clean energy investments -”otherwise clean energy finances would not be credible”.

Nuclear energy has been excluded from the UK government’s Green Financing Framework, while several EU Member States have written to the European Commission to oppose nuclear’s inclusion in the bloc’s green taxonomy.

Nuclear energy faces hurdles to be included in clean energy investments, Word Nuclear News, 02 July 2021,

The UK’s Green Financing Framework describes how the government plans to finance expenditures through the issuance of green gilts and the retail Green Savings Bonds that it says will be critical in tackling climate change and other environmental challenges. The framework, which was produced and published yesterday by the Treasury, sets out the basis for identification, selection, verification and reporting of the green projects that are eligible for such financing.

Under ‘exclusions’, the document says: “Recognising that many sustainable investors have exclusionary criteria in place around nuclear energy, the UK government will not finance any nuclear energy-related expenditures under the Framework.”…………

The letter – signed by the environment or energy ministers of Austria, Denmark, Germany, Luxembourg and Spain – points to “shortcomings” in the JRC report, which was published in April.

The ministers said the JRC’s conclusion was “a misconception” and based on “two grave methodological shortcomings”.

The JRC “neglects to address the residual nuclear risk, assessing only the normal operation of nuclear power plants” and “disregards the life-cycle approach”, according to the ministers.

“We recognise the sovereign right of Member States to decide for or against nuclear power as part of their national energy systems. However, we are concerned that including nuclear power in the Taxonomy would permanently damage its integrity, credibility and therefore its usefulness,” they wrote………….. https://world-nuclear-news.org/Articles/UK-excludes-nuclear-from-green-taxonomy

July 8, 2021 - Posted by Christina Macpherson | climate change, EUROPE