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EU plans may boost Asian nuclear ambitions but progress likely to stutter, say analysts
(Eco Business, 17 Jan 2022) Geographical and technical hurdles coupled with a gas glut in Asia mean nuclear power is unlikely to gain a toehold in the region, despite its inclusion in Europe's “gold standard” green investment rulebook.
Southeast Asia could see more funding in nuclear power, following the European Union’s (EU) proposal to include the energy source in their green finance guide, according to analysts.
More Asian countries may also consider including nuclear energy in sustainable investment frameworks, analysts told Eco-Business, but doubt that these developments will significantly help to hit net-zero 2050 targets, citing cost, technological hurdles and competition with other fuels.
The EU released a draft of its green finance taxonomy on 31 December, which defines what projects can be classed as green to pique the interest of investors.
The bloc said that natural gas projects should count as sustainable under certain conditions. Nuclear energy projects that promise to manage radioactive waste, also got listed amid controversy. Environmental groups and countries like Germany and Austria slammed the plans with the former closing half its remaining nuclear power plants as part of the country’s phase-out of nuclear energy.
Eco Business, 17 Jan 2022: EU plans may boost Asian nuclear ambitions but progress likely to stutter, say analysts
