How green is our nuclear and gas?

The inclusion of nuclear and gas as 'green' energy by the European Commission (EC) in its draft text of its taxonomy regulations is an acceptance of the complexities of implementing the transition to a climate-neutral economy. South Korea, too, has included liquefied natural gas (LNG) in its taxonomy. The EC has begun consultations with experts from EU member states to give final shape to these regulations. The draft text is part of the exercise of labelling investments as green. Investments in activities contributing to reduction in emissions, adapting to climate, not causing harm or undermining environmental objectives would be classified as green. What remains unresolved in the overarching legislation adopted last year - and the subject of political wrangling within the EU - is whether nuclear energy and gas get the green signal. As many as 15 member states favour the inclusion of nuclear, describing it as essential to meet the goal of climate neutrality by 2050. Austria and Germany are among those strongly opposed.

From a global perspective, a EU nod will require addressing questions on its implications on other international agreements governing the nuclear sector and the disposal of waste or spent fuel. It could incentivise R&D of alternative nuclear technology. The draft describes gas as a 'transition' fuel and provides a timeline for transitioning to low carbon gas or renewable in 2035. Its inclusion will give rise to the question of how much latitude can be given to fossil fuels as countries map out their transition plans.

Discussions in the EU on gas and nuclear are expected to be mirrored in other parts of the world, India included. There is agreement that emissions must be reduced. How fast, is the real question.