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EU Members Clash Over Nuclear Energy’s Role In Climate Policy

EU Members Clash Over Nuclear Energy’s Role In Climate Policy

  • The EU is in the process of expanding its renewable energy targets to reduce CO2 emissions.
  • Countries are divided over whether nuclear energy should be considered a part of renewable energy targets.
  • France leads the campaign to recognize nuclear energy as a CO2-free contributor, while Germany, Portugal, and others oppose it.

The European Union needs to work on a divide among its member countries regarding the role of nuclear energy in achieving their renewable energy goals. This disagreement may delay the progress of one of the EU’s primary climate policies.

On Wednesday, negotiators from EU countries and the European Parliament will engage in their final round of discussions to establish more ambitious EU objectives to expand renewable energy throughout the next decade. These goals are crucial for Europe’s commitment to reduce CO2 emissions by 2030 and to become independent of Russian fossil fuels. However, the negotiations have become bogged down by a dispute over whether fossil fuels produced using nuclear power should be considered part of the renewable energy targets.

France is spearheading a push to classify “low-carbon hydrogen” – hydrogen produced from nuclear energy – as equal to hydrogen created from renewable electricity. France is joined by countries such as Romania, Poland, Hungary, and the Czech Republic, all of which seek greater acknowledgment of nuclear energy’s CO2-free contribution to climate objectives.

On the other hand, Germany, Spain, Denmark, Portugal, and Luxembourg oppose this view, arguing that including nuclear power in renewable energy targets would divert attention from the urgent need to expand solar and wind energy across Europe significantly.

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Barclays Vows To Stop Financing Oil Sands Projects

Barclays Vows To Stop Financing Oil Sands Projects

Barclays on Wednesday said it would no longer provide financing to oil sands companies or oil sands projects and tightened conditions for thermal coal lending in an updated policy, which fell short of announcing overall pledges or targets in funding oil and gas.

In the annual report for 2022 published today, the UK-based banking giant vowed not to provide financing for any oil sands projects, compared to a previous policy which stated that it would only provide financing to oil sands exploration and production clients that had projects to materially reduce their overall emissions intensity.

In coal lending, Barclays now aims to phase out financing to clients engaged in coal-fired power generation in the EU and OECD by 2030, compared to phasing out such lending only to clients in the UK and the EU in the previously announced policy.

Commenting on Barclays’ new targets, Jeanne Martin, Head of Banking Programme at ShareAction, said in a statement, “Disappointingly, despite not having published a new oil and gas policy for the last three years, the bank’s fracking policy remains unchanged and there is no mention of new oil and gas. This means Barclays continues to be out of step with current minimum standards of ambition within the industry.”

Pressured by ESG trends and shareholders, other banks have already started to announce cuts to lending to the oil and gas industry.

At the end of last year, two prominent banks in Europe vowed to significantly cut exposure to the fossil fuels sector. Credit Agricole, the largest retail lender in France, said in early December that it targets to have no new financing granted for oil extraction projects by 2025, and to cut its oil exploration and production exposure by 25% by 2025 compared to 2020.

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Austria Looks To Ban Oil And Coal Heaters From 2023

Austria Looks To Ban Oil And Coal Heaters From 2023

Austria’s government is looking to ban the use of new fossil fuel heaters as of next year and replace very old oil and coal heaters with climate-friendly options by 2025, Euractiv reports.

Austria, like the other EU countries, aims to cut its reliance on Russian gas as soon as possible. The government says that abandoning Russian gas should happen simultaneously with adopting renewable heat options.

Before the Russian invasion of Ukraine, Austria received around 80% of the natural gas it consumed from Russia. As of August, this high dependence on Russian gas flows had dropped to below 50%, the government said.

The ban on new fossil fuel heaters, however, would need the approval of at least two-thirds of the Austrian Parliament because the draft bill would require amendments to the constitution, Euractiv’s Nikolaus Kurmayer notes.

“The Russian war of aggression against Ukraine has shown how vulnerable our energy supply is. The answer to that can only be ‘get rid of Russian gas’,” Austria’s Energy and Climate Minister Leonore Gewessler said on Wednesday.

With the Renewable Heat Act (EWG), Austria is now taking another big step on this path, Gewessler added.

Under the new act, gas heaters cannot be installed in new buildings as of 2023, the minister said, adding that by 2040, Austria would switch all heaters in the country to climate-friendly alternatives, getting rid of oil and gas boilers, and moving to use heat pumps, district heating, or pellets.

Austria will support the proposed heaters switch program by making available around $1.95 billion (2 billion euros) by 2026, the minister said.

The Renewable Heat Act (Erneuerbaren-Wärme-Gesetz, EWG) says that fossil-fuel heating such as coal, oil, and gas heating should be phased out in Austria by 2040.

Presenting the initial draft of the bill, minister Gewessler said earlier this year that heating currently accounts for around one-quarter of Austria’s gas consumption.

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Olduvai II: Exodus
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