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EU plan to call nuclear power ”green”, but for Asia, nuclear’s outlook is poor

EU plans to label natural gas and nuclear ‘green’ ‘reflect Asia position’    Pinsent Masons, OUT-LAW NEWS | 11 Feb 2022  John Yeap john.yeap@pinsentmasons.com   The EU executive arm the European Commission has presented a plan to classify some gas and nuclear power as “transitional” green investments.

Known as the EU Taxonomy Complementary Climate Delegated Act, the plan aims to define sustainable investment to guide spending on projects in line with EU’s climate goal to become climate neutral by 2050. The Commission said it would include certain gas and nuclear power activities as ‘transitional activities’.

………….. “Nuclear involves different considerations as its role in power generation in Asia has to date been and will likely continue to be limited. The small landmass of several nations as well as geological considerations of earthquake, volcanoes and tsunamis will likely inhibit the growth of nuclear in nations not currently deploying nuclear. Where nuclear is currently deployed in the region, its continued growth will continue to be influenced by policy, which remains generally negative to its continued use,” he said.

“China has the largest fleet of nuclear power plants in the region and with its advancing domestic technologies, may continue to champion nuclear power generation…….

……  Nuclear power must meet strict nuclear and environmental safety requirements, and natural gas must contribute to the transition from coal to renewables – investment must meet strict conditions and not squeeze out investment in renewables.

Nuclear-related activities classified as ‘sustainable’ under the Act include advanced technologies with closed fuel cycles; new nuclear power plant projects for energy generation, which will be using best-available existing technologies, will be recognised until the date of approval of construction permit in 2045; and modifications and upgrades of existing nuclear facilities for the purposes of lifetime extension will be recognised until the date of approval by competent authority in 2040.

………  The College of Commissioners has reached political agreement on the text of the Act, which will be formally adopted once translations are available in all EU languages, a statement by the Commission said.https://www.pinsentmasons.com/out-law/news/eu-plans-label-natural-gas-nuclear-green-reflect-asia-position

February 12, 2022 - Posted by | ASIA, politics international

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