FORATOM proposes improvements to taxonomy complementary delegated act

FORATOM welcomes the decision of the European Commission to include nuclear within the sustainable finance taxonomy under certain conditions. FORATOM has provided the European Commission with some suggestions for improvement, based on a rigorous analysis of the leaked draft complementary delegated act.

“We recognise that the European Commission has been under significant pressure in relation to the taxonomy and the status of nuclear” states Yves Desbazeille, FORATOM Director General. “In this respect, we are pleased that a proposal is now on the table and that it does take into consideration some of the recommendations put forward by the Joint Research Centre.”

After an in-depth assessment of the leaked text, FORATOM has today written to the Commission in order to highlight the following points:

• Given that nuclear is already recognised as contributing to climate mitigation objectives and does not cause significant harm, it should be treated in the same way as, for example, renewables.
• The deadline for an operational repository for High Level Waste and Spent Fuel should be linked to the date when it will be needed (rather than a fixed deadline of 2050).
• Requirements relating to the use of Accident-Tolerant Fuels should only come into effect once such fuels are available on the market.
• The assessment of nuclear projects should be in full compliance of existing legislation and in accordance with Article 41 of the Euratom Treaty.
• EU investments in nuclear projects outside the EU should also be considered as taxonomy compliant.
• The nuclear fuel cycle should be included as an enabling activity.
• The production of heat and hydrogen from existing nuclear plants and advanced technologies should also be covered by the taxonomy.
• More flexibility, and certainty, should be granted to research and innovation in the nuclear field.
• In line with the principle of technology neutrality, nuclear investments should not be subject to separate disclosure requirements.

“We recognise that this issue remains a very complex one at political level” adds Mr Desbazeille. “Nevertheless, we do believe that the issues listed above should be tackled in order to ensure that the principle of technology neutrality as enshrined in the Taxonomy Regulation is respected”. FORATOM has furthermore expressed its willingness to provide the European Commission with support where useful.

About us: The European Atomic Forum (FORATOM) is the Brussels-based trade association for the nuclear energy industry in Europe. The membership of FORATOM is made up of 15 national nuclear associations and through these associations, FORATOM represents nearly 3,000 European companies working in the industry and supporting around 1,100,000 jobs.

For more information, please contact Jessica Johnson: jessica.johnson@foratom.org.