EU countries divided over nuclear energy in sustainable investments. Czech Republic in favour

A group of five EU member states has issued a declaration urging the European Commission not to include nuclear energy in the so-called EU taxonomy. The EU taxonomy is a classification of environmentally sustainable investments. The declaration comes a month after an initiative by another ten EU member states, which, conversely, backed nuclear energy. The news was reported by Euractiv.

The EU taxonomy is a classification system for environmentally sustainable investments. It is intended to provide companies, investors and government representatives with a tool to identify so-called “green” investments, thereby contributing to their rapid development and to the implementation of the European Green Deal.

The first part of this taxonomy, covering climate change mitigation, was presented in spring 2021. However, it does not address projects involving natural gas and nuclear energy. At the time, the Commission postponed the possible inclusion of these technologies in the taxonomy. A Commission proposal intended to resolve the issue of natural gas and nuclear energy in the taxonomy is expected in the coming weeks.

Ten countries in favour

Frans Timmermans, the climate commissioner, said at COP26 that natural gas would likely qualify as a sustainable investment. As early as mid-October 2021, a group of ten EU member states also commented on the possible inclusion of nuclear energy in the EU taxonomy.

France, the Czech Republic, Bulgaria, Finland, Croatia, Hungary, Poland, Romania, Slovakia and Slovenia signed a joint declaration supporting the inclusion of nuclear energy among sustainable investments. According to them, one reason for supporting nuclear power is the ongoing energy crisis and high energy prices.

“To win the fight against climate change, we need nuclear energy. It is a key and reliable component of a low-carbon future for all of us [signatories],” states the declaration by ten member states in support of nuclear energy in the EU.

Five countries against

Last week, by contrast, Germany, Austria, Denmark, Luxembourg and Portugal issued a declaration urging the European Commission not to include nuclear energy in the EU taxonomy.

“We recognise the sovereign right of member states to decide for or against nuclear energy as part of their national energy systems. However, we are concerned that including nuclear energy in the taxonomy would permanently damage its integrity, credibility and thus its usefulness,” states the declaration by five EU member states against the inclusion of nuclear energy in the EU taxonomy.

Austria even published a legal opinion in September according to which including investments in nuclear energy under the EU taxonomy would be contrary to the EU Taxonomy Regulation. According to the legal opinion, nuclear energy cannot be classified as making a substantial contribution to the environmental objectives set out in the regulation. News agency Reuters even reports that Austria would consider legal action if nuclear power were included in the taxonomy.