2 Apr (NucNet): Adequate financing and investment is needed in all low-carbon technologies if Europe is to achieve full-decarbonisation of its economy and meet its goal of keeping global warming below 1.5C, the Brussels-based nuclear industry group Foratom has said.
Foratom called for “coherence across EU legislation and for policy to be in line with the objective of achieving a carbon-free Europe by 2050”.
Policies must ensure that Europe has access to the energy it needs when it needs it and that new environmental problems are not created, Foratom said. Policies must support jobs and growth in Europe.
To achieve this, EU legislation must support all low-carbon technologies, rather than cherry-picking one technology over another. Basing decisions on political acceptance rather than objective criteria will make it much harder for Europe to achieve goals, Foratom said.
Last week the European parliament adopted a text on the European commission’s proposal for a sustainable finance system, which would provide finance taking into account environmental, social and governance considerations.
According to Foratom MEPs failed to take an objective approach to what “sustainable” means, assuming that only technologies which are renewables-based should be eligible for such finance.
Foratom said the text the parliament adopted goes against the commission’s vision, which recognises that nuclear, together with renewables, will form the backbone of a carbon-free power sector in 2050.
It also goes against the latest Intergovernmental Panel on Climate Change report on global warming which said nuclear power is essential to keep global warming to below 1.5C.