RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2021-07-05 13:15:00

BRITAIN'S NUCLEAR HURDLES

BRITAIN'S NUCLEAR HURDLES

WNN02 July 2021 -   - 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.

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."

It adds: "The UK government, however, recognises that reaching net zero emissions will require all energy to be delivered to consumers in zero-carbon forms and be derived from low-carbon sources. Nuclear power is, and will continue to be, a key part of the UK’s low-carbon energy mix alongside solar and wind generation and carbon capture and storage. All these technologies are important in tackling climate change and diversifying the UK’s supply, contributing to the UK’s energy security and sustainable growth."

The Framework aligns with the 2021 International Capital Market Association Green Bond Principles.

"To enable investors to follow the progress and positive impact delivered," the Treasury said it intends to publish an allocation report on its Eligible Green Expenditures on an annual basis and an impact report setting out the environmental impacts and social benefits at least biennially.

The UK is also in the process of developing its own 'green taxonomy'.

Germany-led opposition

Meanwhile, a group of five EU Member States, led by Germany, have written to the European Commission asking for nuclear energy to remain excluded from the EU Taxonomy on Sustainable Finance.

Their letter follows the assessment of the Joint Research Centre (JRC), whose mission is to support EU policies with independent evidence throughout the whole policy cycle, that nuclear energy does no more harm to human health or the environment than any other power-producing technology considered to be sustainable.

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.

The two expert groups tasked by the European Commission with the review of the JRC report on the sustainability of nuclear energy published their assessments today. They are here and here.

The Article 31 group largely agrees with the conclusions of the JRC report, while the Scientific Committee on Health, Environmental and Emerging Risks recognises its own lack of the requisite expertise to conduct this assessment but raises some concerns about the conclusions of the JRC report.

-----


Earlier:

BRITAIN'S NUCLEAR HURDLES
2021, June, 30, 12:45:00
BRITAIN'S ZERO NUCLEAR FUEL
NNL says the UK has set a world-leading net zero greenhouse gas emissions commitment and the nuclear fuel cycle is crucial to the role of nuclear technology in decarbonising the future energy system.
BRITAIN'S NUCLEAR HURDLES
2021, June, 16, 11:30:00
BRITAIN'S NUCLEAR POWER STRATEGY
It is essential that the roles for nuclear energy are set out and assessed clearly, with the acknowledgement that they will not be adopted unless they are part of an optimised solution. It is also essential that similarly objective assessment mechanisms are applied to all decarbonisation options.
BRITAIN'S NUCLEAR HURDLES
2021, May, 28, 11:30:00
BRITAIN'S FUSION PROGRESS
The new system, known as a ‘Super-X divertor’, would allow components in future commercial tokamaks to last for much longer; greatly increasing the power plant’s availability, improving its economic viability and reducing the cost of fusion electricity.
BRITAIN'S NUCLEAR HURDLES
2021, May, 27, 13:15:00
BRITAIN, IAEA NUCLEAR PARTNERSHIP
In the UK today, nuclear energy generates roughly 20% of the country’s electricity, but almost half of current capacity is to be retired by 2025.
BRITAIN'S NUCLEAR HURDLES
2021, May, 26, 13:10:00
BRITAIN'S HYDROGEN: NO COLORS
UK strategy would take a "twin-track approach", she said. "It would not be blue or green, but both. Blue gives us volume as well as investment."
BRITAIN'S NUCLEAR HURDLES
2021, May, 24, 12:40:00
BRITAIN'S NUCLEAR INVESTMENT
"We are investing in the UK’s most important asset - our workforce - to ensure that our people have the right skills to deliver the low-carbon transition and thrive in the high-value jobs this will create.
BRITAIN'S NUCLEAR HURDLES
2021, May, 21, 09:50:00
BRITAIN'S CARBON MARKET
The new emissions trading system (ETS), that will charge power plants and industrial plants for each tonne of CO2 emitted through ICE, will replace the EU ETS that the United Kingdom left at the end of the Brexit transition period in December 2020.
All Publications »
Tags: BRITAIN, NUCLEAR
Chronicle:
BRITAIN'S NUCLEAR HURDLES
2022, May, 27, 12:14:00
WORLD GAS CONFERENCE 2022
The 28th World Gas Conference (WGC 2022) takes place in Daegu, the energy city of Korea in May 2022.
BRITAIN'S NUCLEAR HURDLES
2022, May, 27, 12:13:00
6TH ANNUAL LNG SUMMIT USA
The 6th Edition of Wisdom’s Much Acclaimed Annual LNG Summit Will Be Held Live in Houston - PREPARING THE INDUSTRY FOR THE RISE IN DEMAND FOR LNG
BRITAIN'S NUCLEAR HURDLES
2022, May, 27, 12:10:00
ЭНЕРГОРЕСУРСЫ ДЛЯ ЕАЭС
Николай Шульгинов подчеркнул, что для обеспечения энергетической безопасности энергосистем Центральной Азии необходима совместная разработка мер нормативного, организационного и технического характера.
BRITAIN'S NUCLEAR HURDLES
2022, May, 27, 12:05:00
UAE, INDIA ENERGY COOPERATION
The UAE’s expanded cooperation with India in the area of climate aims to support India’s ambition to achieve 450 gigawatts (GW) of renewable energy installed capacity by 2030 and aligns with the UAE’s ambitions to expand its low and zero-carbon energy capabilities.
BRITAIN'S NUCLEAR HURDLES
2022, May, 27, 12:00:00
U.S. OIL INVENTORIES DOWN BY 1.0 MB TO 419.8 MB
U.S. commercial crude oil inventories decreased by 1.0 million barrels to 419.8 million barrels.
BRITAIN'S NUCLEAR HURDLES
2022, May, 26, 12:40:00
OIL PRICE: BRENT ABOVE $114, WTI NEAR $111
Brent gained 47 cents, or 0.41%, to $114.50 a barrel , WTI climbed 53 cents, or 0.48%, to $110.86 a barrel.
BRITAIN'S NUCLEAR HURDLES
2022, May, 26, 12:35:00
ВЗАИМОДЕЙСТВИЕ РОССИИ, ИРАНА
Важную роль в развитии двусторонних отношений играют флагманские проекты сотрудничества, продолжил вице-премьер, такие как строительство атомной электростанции «Бушер» и теплоэлектростанции «Сирик».
All Publications »