Britain can recognize nuclear energy as “green”
The British government plans to recognize nuclear power as “green” in a bid to attract more private investment in the sector to improve the country’s energy sustainability.
It is reported Financial Times.
Ministers will also discuss proposals to change the energy “taxonomy”, that is, the financial classification system, to reclassify nuclear energy projects as sustainable investments.
It is expected that this will lead to the reversal of the decision of the Treasury, taken back in 2021, to exclude nuclear power from the so-called green investment system.
The move echoes the European Commission’s decision last year to classify nuclear power and some types of gas as “green” investments, prompting legal challenges from Greenpeace and the WWF and Client Earth coalition.
Ministers are looking to speed up a program plagued by delays and cost overruns at the only new nuclear power station being built at Hinkley Point in Somerset. The government, along with French state-owned EDF, is trying to raise £20bn of private funding for the next power station at Sizewell in Suffolk.