Nuclear power is soon to start a new journey with European Union considering it as a renewable energy source.
European Union is thoroughly reviewing a report that classifies nuclear power as sustainable energy. The latest on it is that the EU has completed its own draft, which suggests the same, stating that nuclear energy is a green investment and fully meets the standards as a sustainable energy source.
As promising as it sounds, it still is dependant to first go through the opposing debates, such as natural gas, which is not classified as a renewable energy source even after being proposed several times.
Sustainable Finance Taxonomy’s role
European Commission’s sustainable finance taxonomy will further look into nuclear sources and if they give out clean energy or not. Last year, a debate between Brussels expert advisors took place on whether to mark nuclear energy as a clean source. As a matter of fact, nuclear power releases a minimal amount of planet-warming CO-2 emissions, which is quite in contrast to the narrative built on its use.
Moving forward with the decision that is yet to be made, the European Commission asked for a report from Joint Research Centre, which is now in its draft stage. Rumors are that the scientific-focused arm has marked a green label on nuclear energy as a sustainable source.
“The analyses did not reveal any science-based evidence that nuclear energy does more harm to human health or the environment than other electricity production technologies,” read the report. Nuclear waste can be stored in deep geologic formations in ways that are “appropriate and safe,” continued the report, citing cases like France and Finland, where such sites are already in advanced development stages.
Further research by two teams will continue for a span of two months, after which the commission will take its final decision.
Alike criticism as on natural gas
Nuclear energy faces similar criticism as natural gas and its use as a sustainable energy resource. Hungary, France, and five other countries support nuclear use, but some other nations oppose it. States not in favor include some European states like Austria and some environmental groups that believe it’s a bad idea and poses risks of releasing harmful toxins.
“The nuclear industry is desperate for funds as nuclear power is too expensive and new projects are evaporating,” said the Greenpeace E.U. Policy Advisor Silvia Pastorelli. More precisely, E.U. countries are split on how the taxonomy should consider natural gas investments.
Some of the opposing countries use natural gas and other fuel sources that harm the environment. Moreover, they seem fine with developing nuclear warheads, but using them as a green energy source bothers them. However, nuclear technology advances such as mini nuclear reactors, advances in thorium, and more have brought the European Union to label it as renewable and sustainable energy.