Statement: The Greens in the CoR against nuclear power to be classified as sustainable investment
In the light of the upcoming decision of the European Commission on the classification of sustainable investments, the Greens in the Committee of the Regions express their strong opposition to the possible inclusion of nuclear power:
Classifying nuclear power as sustainable and the promotion of nuclear power under the European Green Deal is at odds with a climate-friendly, low-risk and sustainable EU energy policy.
If investments in nuclear power would be labelled as ‘sustainable’, it would attract more investors such as banks, insurance companies and other financial market actors, but also individuals and small investors. However, nuclear power is not sustainable for example, for the following reasons:
- The operation of nuclear power plants involves risks that can make entire European regions and countries uninhabitable.
- Radioactive waste has to be safely stored for 1 million years. Today, more than half a century since the start of nuclear energy generation, no country in the world has established a repository for high-level radioactive waste. It is therefore an infinite burden for municipalities, regions and future generations.
- Nuclear power plants are very expensive and follow-up costs cause not least a high burden on direct and indirect public funds. Nuclear energy therefore falsely appears affordable, while it is financed with considerable amounts of taxpayers’ money.
- Existing installations are not technically state-of-the-art and require huge investments to improve their safety. These investment needs have been identified by the European Fukushima stress test. Therefore, the lifetime of nuclear power plants should be capped.
- New types of reactors claimed to have very low risks – such as the 4th reactors generation, Small Modular Reactors (SMR) or Transmutation Reactors – so far have only been announced and are far from industrial deployment. Relying on them is delaying the transition to 100% renewable energy. The ideas consume research funding, which would be needed for the development of truly sustainable technology.
- Nuclear power stations, even of a next generation, cannot be used globally for climate protection, as they always carry the risk of proliferation of weapons-capable technology and fissile material. Yet, the technology on which the European Green Deal relies, must be globally applicable and cannot be reserved exclusively to some countries.
- Uranium extraction and nuclear fuel chains cause environmental damage, bear massive health risks and lead to dependencies on imported energy raw materials.
- Nuclear energy is at odds with the do no harm principle.
Already today, nuclear energy is no longer competitive with renewable energy. The development of renewable energy is much cheaper and much faster. Investing the equivalent sums in the production and storage of renewable energy would sustainably bring Europe closer to climate neutrality and to limiting temperature rise to 1.5°C.
Therefore, we call for:
NO GREENWASHING OF NUCLEAR POWER!
The Greens in the CoR support the petition addressed to EU Commission President von der Leyen and EU Commissioner Timmermans: www.act.greens-efa.eu/stopgreenwashing
The Greens in the CoR also support the Alliance of Regions for Phasing Out Nuclear Power Across Europe and will promote its expansion.
The French court of auditors recently issued a warning concerning considerable financial investments and long construction times, referring to the announcement of President Emmanuel Macron to build further nuclear power plants. The court takes the example of the Flamanville power plant, which is expected to start operating in 2023 with a delay of 11 years, and where initial cost estimates were € 3.3 billion but now reach € 19 billion. The court calls for a comprehensive debate on all potential challenges, as two thirds of the French nuclear reactors will have ceased production by 2050.