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“No regrets” as UK government portrays nuclear power as “clean” and “green”

 Nuclear power to get ‘green’ status as Britain races EU to hit net
zero. Move is part of a bid to unlock billions of pounds of funding for
more power stations. Nuclear power projects such as Sizewell C in Suffolk
will be granted so-called “green” status under plans by Jeremy Hunt to
unlock billions of pounds in funding for the industry. The Chancellor is
expected to announce the change within weeks as part of a broader shake-up
of the UK’s financial rules on green energy.

It would see nuclear power
projects classed as “green” or “sustainable” investments, clearing
the way for more institutional investors and environment-focused funds to
back them. There are also hopes that the Treasury could fund new power
plants with money raised through the Government’s green gilts and green
savings bonds. Generating nuclear power does not produce carbon dioxide, [ if you ignore the total nuclear fuel chain] so the sector is seen as a key plank of Britain’s plans to reach net zero
emissions by 2050.

A recent review by former energy minister and Tory MP
Chris Skidmore said that supporting the construction of more nuclear
reactors was a “no regrets” option. However, the sector has faced
difficulties portraying itself as environmentally friendly in the past
because of concerns about nuclear waste, water usage, and the remote but
catastrophic risk of nuclear accidents. Top fund managers such as Legal &
General and Aviva have previously expressed caution about the green
credentials of nuclear, with Aviva chairman George Culmer last year saying
there was an “ongoing debate”.

 Telegraph 14th Feb 2023


February 15, 2023 - Posted by | climate change, politics, UK

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