The limits of the "green label" for nuclear energy adopted by the European Commission

Restricted perimeter

Not all activities in the nuclear sector are recognized in the list of investments that can benefit from the advantages of green finance.

This concerns the construction of new power plants for the production of electricity and work for the extension of existing power plants, as well as research with a view to developing technologies that minimize waste.

But the management of the fuel cycle (extraction and enrichment of uranium, processing of spent fuel, burial), a crucial element, is excluded.

Deadlines

The Commission recognizes the usefulness of nuclear power in reducing greenhouse gas emissions and combating global warming, but affirms that only renewable energies (wind, photovoltaic, etc.) are truly "sustainable" and remain the same. priority objective of European energy policy.

She wanted to set a time limit. For new nuclear power plants, the labeling can only apply to projects that have obtained a building permit before 2045. Plant extensions must have been authorized by 2040.

These limits are in fact intended to encourage the use as soon as possible of future 4th generation reactors, expected in the decades to come, which are safer and considerably limit the production of waste. It is expected that these dates may be pushed back "depending on the progress in the development of these technologies".

Best available technologies

The "green label" can only be granted to nuclear projects implementing the best available technologies. The new plants concerned will therefore be at least 3rd generation (like the French EPR of Framatome-Siemens).

To be recognized by the EU's sustainable finance label, all power plant projects (construction or extension) will in particular have to use, from 2025, new fuels that are resistant to accidents ("accident tolerant fuel").

If the French Nuclear Energy Company (Sfen) recognizes the interest of this innovation in terms of safety, it nevertheless considers that it "cannot be a requirement" insofar as these fuels are still at the R&D stage, with a deployment schedule that remains uncertain.

Waste management and dismantling

Although not recognized among the activities benefiting from the "green label", the use of waste treatment and storage, as well as the dismantling of installations at the end of their life, are necessary conditions for labeling projects for the construction and renewal of power plants.

Brussels imposes on the Member States hosting these projects a management plan for all types of waste, radioactive or not, as well as the reuse as much as possible of spent fuel.

But also a detailed project to have by 2050 storage facilities by burying high-intensity nuclear waste, some of which remain dangerous for 100.000 years. A financing plan for these devices is also required.

Brussels control

Each new plant or extension project must be notified to the European Commission, which will analyze its compliance with the criteria set. It must also be the subject of a detailed report sent to Brussels every five years to take stock of its progress.

Thus, the European executive is giving itself new prerogatives which risk proving to be redundant with those of the national safety authorities and undermining the sovereignty of States in energy matters.

Transparency

All companies will have to publish the share of their activities in the nuclear sector. This provision will allow financial players who so wish to create "green" investment products guaranteed to be nuclear-free.