Preparation to define nuclear and gas as ‘green investment’ from EU

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Preparation to define nuclear and gas as 'green investment' from EU

Preparation to define nuclear and gas as ‘green investment’ from EU

The European Union (EU) is preparing to classify new nuclear power and natural gas power plants as green investments.

Preparation to define nuclear and gas as 'green investment' from EUThe EU Commission announced that the expert consultation process on the classification of energy investments in the nuclear and natural gas fields in the member states has been started.

In the statement, it was noted that with the classification, it was aimed to direct investments to the activities needed in order to achieve the EU’s goal of becoming a climate-friendly continent in 30 years.

Reminding that the energy production resources of each EU country differ in the current situation, it was stated that some regions of Europe still rely heavily on high-carbon coal in energy.

In the statement, it was stated that considering scientific advice, current technological progress and changing transition challenges between member states, the EU Commission sees natural gas and nuclear as tools to facilitate a renewable-based transformation in energy.

Noting that natural gas and nuclear contribute to climate-friendly transformation, the statement pointed out that these energy resources will be included in the green investment classification under open and strict conditions.

The requirement to obtain a license for nuclear power plants before 2045
In the statement, it was noted that after the completion of the expert consultation process, the EU Commission will send the relevant legislation to the European Council and the European Parliament (EP) in January for approval. Energy investments included in the EU’s green classification provide easier access to finance.

In the draft of the EU Commission, nuclear power plant investments that do not harm the environment and can dispose of their waste safely are classified as green and sustainable economic activity. In order for these nuclear power plants to be considered green investments, they must be licensed before 2045.

On the other hand, if natural gas investments, which will be green investments, will replace coal, they should emit less than 270 grams of carbon emissions per kilowatt-hour and the construction permit must be obtained before the end of 2030.

About 10 countries led by France demanded that nuclear energy be included in the green investment classification framework, stating that it is an effective, safe and competitive resource in the fight against climate change.

In addition, a group of countries wanted natural gas to be temporarily accepted as sustainable in the EU investment classification rules.

Countries such as Germany, Austria and Luxembourg had the view that nuclear should not be included in the green classification.

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